India-based venture capital firm Nexus Venture Partners closed its latest fund at over $450m.
Backers of Nexus Ventures IV Ltd include endowments, foundations, and financial institutions across North America, Europe and Asia.
The new fund, which brought total capital under management to over $1 billion, will focus on investing in seed and early stage businesses that aim to disrupt consumer retail, financial services, healthcare, and education markets, and in enterprise technologies that are enhancing productivity and lowering time to market.
Launched in 2006 by Naren Gupta, Nexus Venture Partners has invested in over 60 companies across Technology, Internet, Consumer, and Business Services sectors. Backed companies include Craftsvilla, OLX, ShopClues, Snapdeal and Stayzilla.