The US-based venture capital firm, Nexus Venture Partners is in talks with limited partners to raise up to $400 Mn for its next fund. The move will make Nexus to gather $1 Bn in terms of total funds under management.
According to the reports, the $400 Mn fund will be the second largest India-centric fund to be raised after Sequoia Capital India raised $530 Mn early last year.
The person familiar with the development said, “Nexus have been pre-marketing the new fund since late last year. It has a soft target of $400 Mn. Given the heightened interest in India, they may raise more.”
India’s startup market has grabbed a lot of attention from foreign limited partners such as university and corporate endowments, pension trusts and global fund-of-funds in last two years. Earlier in 2014, investors had raised a record $1 Bn in fresh capital, up from $309 Mn raised in 2013.
The other homegrown investors who are looking to raise funds or has already raised funds are as follows-
Helion Venture Partners – Helion Venture Partners is planning to float its fourth fund this year, whose size is expected to be $200-250 Mn.