Nexus Raises A Third Fund Of $270M To Find The Next Killer App, In India

In the rush to find the next great tech company, VCs eschewing the crowded scene in Silicon Valley are looking further afield for their gems. For some that means other cities in the U.S. and going to Europe and South America; and for Nexus Venture Partners, the answer is India, where it has focused its investment efforts since 2006, and will continue to do so, with the closure of a new $270-million fund, its third to date (the previous two were for $100 million and $220 million). Backers of the fund, according to Naren?Gupta, co-founder of Nexus, come primarily from endowments, foundations and financial institutions in North America and Europe, with only a smattering from Asia itself. "They see?the Indian market as the market of the future," he explains, with backers including organizations that have "done quite well in China lately and see India as 10 years behind that in terms of development and investment opportunities."

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