Nexus Venture Partners Secures $700 Million in Funding for Startups in India and the US

• ByStartupStory     |    March 1, 2023

Nexus Venture Partners has successfully secured $700 million in funding for their new fund, Nexus Ventures VII. The VC firm has backed successful unicorns such as Postman, Delhivery, and Unacademy, and joins other firms in raising significant funding in a challenging macroeconomic climate for startups.

According to a blog post by a venture capitalist, the COVID-19 pandemic has hastened the global adoption of digital technology among businesses and consumers, creating an ideal environment for technological innovation. The rise of remote work has allowed startups to thrive by tapping into a talent pool that is not constrained by location. Additionally, recent advancements in artificial intelligence (AI) have empowered technology to disrupt various industries at an unprecedented pace. 

The VC remarked that India is rapidly becoming a crucial center for innovation and talent in AI and software, with one of the largest developer bases worldwide. Additionally, India boasts one of the fastest-growing economies globally, fueled by exceptional mobile data networks and advanced payment infrastructure, leading to an acceleration in digital consumption.

Nexus Venture Partners, established in 2006 by former entrepreneurs Suvir Sujan, Sandeep Singhal, and Naren Gupta, is among the earliest Indian VC firms to invest in startups located in the US and India. With the recent fund, the company’s total assets under management are set to reach $2 billion. Nexus Venture Partners has supported almost 200 startups in India and the US to date, with over 100 startups in India alone. Its portfolio includes six publicly-listed firms, such as Zomato, Delhivery, and MapmyIndia.

Nexus Venture Partners has raised a fund of $700 million, which is the second-largest amount raised by an Indian VC firm. Sequoia Capital India raised $2.85 billion in mid-2022 to invest in startups located in India and Southeast Asia, ranking as the largest fund.

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