Nexus Venture Partners announced the closure of its largest-ever fund, the $700M Nexus Ventures VII.
The venture-capital firm plans to invest in artificial intelligence, SaaS, fintech, and commerce companies in India and the U.S.
After the pandemic sped up digital adoption globally, Nexus Venture said there has not been a "better time for technology innovation."
- The firm noted that "recent breakthroughs in AI" are helping technologies disrupt each sector at a faster pace than ever.
- Meanwhile, India is emerging as a talent and innovation hub for companies innovating in AI and software, it said.
Nexus has invested in nearly 200 startups in the U.S. and India. These include the unicorns Delhivery and Zomato as well as smaller startups like Unacademyand Postman.
- Its $700M Nexus Ventures VII is the second biggest fund by an Indian venture-capital firm, after Sequoia Capital India's $2.85B India and Southeast Asia fund that closed last year.
