Nexus Venture Partners has recently closed its $700Mn funds from venture capital to invest in the US and India. Nexus Ventures have already backed Delhivery and Unacademy.
This capital will be utilized by the company in the domain of SaaS, AI, commerce, and fintech. Although the names of LPs (limited partners) are not yet disclosed, it is still anticipated that most of the LPs were associated with the company since the beginning.
The company stated, “With one of the largest developer bases in the world, India is emerging as a key innovation and talent hub for global companies driving AI and software revolution. India is also amongst the fastest-growing economies on the planet, with accelerating digital consumption powered by best-in-class mobile data networks and advanced payments infrastructure”.
Further, it stated, “The pandemic has accelerated digital adoption worldwide across enterprises and consumers. Remote workforces have enabled start-ups to flourish by leveraging talent independent of geography. The recent breakthroughs in artificial intelligence are enabling technologies to disrupt every sector faster than ever before.”
This development news has come at a time when start-ups around the globe are struggling for funding.
As per Venture Intelligence, VC (venture capital) & PE (private equity) investments have decreased by approx. 63% Y-O-Y in Jan’23.