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Nexus raises $100 million fund to invest in India
By siliconindia
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Tuesday, 10 July 2007, 19:30 IST
Mumbai: Nexus plans to invest in technology start-ups and companies with business models not driven by technology for which it has closed a $100 million capital fund.
The $100 million fund has invested in five innovative companies to date, including $5 million each, in the Mumbai-based mobile2Win, a mobile value-added services company, and the Andhra Pradesh-based DimDim, a web collaboration start-up. The fund, which generally funds around 2-3 companies every quarter, is expected to invest in three more companies in July. The companies are involved in outsourcing and consumer technology.
Nexus Capital expects its portfolio to grow to $20-25 million over the next two to three years, and is investing in the range of $500,000 to $10 million in companies.
The fund's investors include top tier institutions and strategic family offices from North America, Europe and Asia. Entrepreneurs and investors in technology, media, outsourced services, retail and consumer sectors will advise the fund and its portfolio companies.
The founders of the fund and its advisory companies include industry veterans and successful venture investors which includes Naren Gupta, founder, Integrated Systems; Sandeep Singhal, founder eVentures India; and Suvir Sujanco, founder, Bazee.com. Bill Davidow, senior executive, Intel, and co-founder of a highly successful venture fund is a special advisor to Nexus.
"Innovation in India is going to come from many different sectors and Nexus plans to make investments in early and expansion stage companies led by passionate founders and executives," said Gupta.