Nexus India capital closes USD 220 mn fund

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Mumbai, Aug 20 (UNI) Nexus India Capital, India's leading early stage fund today announced the closure of Nexus India Capital II, L.P, a USD 220 million fund that will invest in early stage companies with significant market opportunity or delivery presence in India.

The fund will focus on domestic consumer and business services, technology, media and cleantech, investing up to 10 million dollars per company, according to a release here.

The fund was raised in turbulent market conditions and was significantly oversubscribed. The fund's investors include leading endowments, foundations, sovereign wealth funds and other institutions from North America, Europe and Asia.

Commenting on the occasion, Nexus India Capital Managing Director Naren Gupta said, ''We are delighted to have received such a overwhelming support for Nexus, which underscores the attractiveness of the investment opportunity and the expertise of our investment team. The closure of the fund during the global market meltdown represents a major endorsement of our track record in spotting winners in early stage investments and Investing behind six-sigma entrepreneurs, who are creating market leaders.'' Nexus is founded by CEOs of successful high growth global companies - Naren Gupta, Sandeep Singhal and Suvir Sujan. Apart from the founders, the Nexus team includes experienced professionals who support passionate entrepreneurs in building companies that are market leaders.

Nexus typically invests in six to eight companies each year and works with them to add value as needed. Started in 2006, Nexus has invested in thirteen companies from its previous USD 100M fund.

Investments include Netmagic Solutions, India's leading carrier neutral managed services provider, Komli, India's leading online advertising network, Suminter India Organics, a leader in organic food and cotton processing, and CE Infosystems that provides navigable maps for India under the MapmyIndia brand.

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