Delhivery, Unacademy’s investor Nexus Venture Partners closes a VC fund worth $700 mn

Nexus Venture Partners, which has invested in prominent companies such as Delhivery and Unacademy announced that it has closed a venture capital fund worth $700 million to back ‘exceptional entrepreneurs’ in India and the US. 
 
Nexus Ventures VII will invest across sectors such as artificial intelligence, Software as a Service, fintech, and commerce. 
 
“With one of the largest developer bases in the world, India is emerging as a key innovation and talent hub for global companies driving AI and software revolution. India is also amongst the fastest-growing economies on the planet, with accelerating digital consumption powered by best-in-class mobile data networks and advanced payments infrastructure,” the VC firm revealed in a blog post.
 
The blog also stated that pandemic has accelerated digital adoption worldwide across enterprises and consumers, thus clarifying the VC firm’s interest in the technology space. “Remote workforces have enabled startups to flourish by leveraging talent independent of geography. The recent breakthroughs in Artificial Intelligence is enabling technologies to disrupt every sector faster than ever before,” the blog read.
 
Nexus was launched in 2006 by Suvir Sujan, Sandeep Singhal and Naren Gupta. It has invested in over 100 start-ups in India some which even went public.
 
Last year, Nexus-backed logistics platform Delhivery went public. 
 
In a post shared after Delivery was listed on the stock market read, “We took a contrarian view that India is going through a digital revolution that will require a new-age supply chain beyond e-commerce and this will be built by an independent company. To build an efficient supply chain business in the country, the use of technology and data is very critical. We liked the technology-first thinking of the Delhivery team.”
 
It has also invested in other listed companies such as foodtech major Zomato, and mapping platform MapMyIndia. Additionally, Nexus has also backed unicorn companies such as Postman, Unacademy,H2O, and more.
 

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