Venture capital fund Nexus Venture Partners today said that it had closed Fund IV with committed capital of more than $450 million. Most of the funding was raised from long-term investors who had participated in previous funds.
Nexus invests seed and early stage capital across enterprise technology, consumer and business services. Startups that got Nexus funding include e-commerce major Snapdeal, online marketplace for used goods OLX, hotel room aggregator Stayzilla, online marketplace ShopClues and Craftsvilla.
It has also invested in hyperlocal logistics players Delhivery and RoadRunnr, Netmagic and Suminter. The company began operations in 2006 and has invested in over 60 companies. Including the new fund, Nexus now has over $1 billion invested in various startups.
Investors in Fund IV include endowments, foundations, and financial institutions across North America, Europe and Asia. Nexus Venture Partners has three earlier funds. Fund I ($100mn) was announced in 2007, Fund II ($220mn) closed mid-2008 and Fund III ($270mn) in end 2012.
“We are thankful to our investors that continue to back us and believe in our investment philosophy. Most significantly, the Nexus team is fortunate to have exceptional entrepreneurs partner with us on their journey to build market-leading companies,” said Naren Gupta, co-founder and managing director.