0
0
Beginning phase investment firm Nexus Venture Partners is in converses with raise up to $550 million worth 6th asset, said three individuals mindful of the subtleties of the discussion. At the point when this experiences, it will be the biggest corpus raised by the local VC firm to date.
“Nexus Venture Partners has been in late-stage converses with existing and new restricted accomplices [LPs] for around three-four months,” said one of the sources mentioning obscurity. “It has set an objective of $550 million in the new asset.”
Nexus has been known for making wagers on Snapdeal, WhiteHat Jr Unacademy, Delhivery and SaaS unicorns Postman and Druva. The VC firm had brought about $450 million up in its fifth asset in 2019.
“The 6th asset is in accordance with the company’s conviction to have a bigger asset to contend comprehensively with any semblance of Sequoia Capital, Lightspeed Venture Partners,” said the second individual who likewise wanted not to be named.
As per its site, Nexus has an arrangement of more than 100 organizations. Entrackr’s prompt inquiries to Nexus stayed unanswered. We will refresh the story in the event that they react.
Established by Suvir Sujan, Sandeep Singhal and Naren Gupta, Nexus is a 15-years of age VC firm and one of the country’s first local endeavor financial backers. The organization as of late scored 28X profit from its one-and-a-half-year since quite a while ago wager on edtech startup WhiteHat Jr.
Nexus left with $140 million money on its $5 million wager on the Karan Bajaj-established organization when Byju’s gained it a year ago. As per information from Venture Intelligence, the firm has made ways out worth $500 million since its commencement in 2006.
Among bigger size adventure subsidizes that have been dispatched for Indian new businesses in the previous a year is Sequoia Capital’s $1.3 billion worth corpus for India and SEA district.
BEENEXT additionally raised a $110 new asset in June 2020 followed by Lightspeed Venture Partners had denoted the end of its third India-centered asset at $275 million. In October 2020, SAIF Partners, which rebranded itself as Elevation Capital, likewise reported the end of its seventh asset at $400 million.
The new corpus by Nexus will be more noteworthy than the previously mentioned firm and would assist it with going more forceful (on the lines of Accel, Sequoia and Lightspeed) on beginning phase venture alongside follow-on rounds in the current portfolio organizations.
Average Rating