Nexus India Capital has closed a $100 million venture capital fund toinvest in opportunities across sectors in India. Nexus plans to invest in technology start-ups as well as companies with non-technology business models.The fund's investors include top tier institutions and strategic family offices from North America, Europe and Asia.The fund has also announced investments in five innovative companies to date, including $5 million each in mobile2Win, a mobile value-added services company, and DimDim, a web collaboration start-up.The fund and its portfolio companies will be advised by successful entrepreneurs and investors in the technology, media, outsourcing services, retail and consumer sectors. The founders of the fund and its advisory companies include industry veterans and successful venture investors Naren Gupta, Sandeep Singhal, and Suvir Sujan. Bill Davidow, senior executive, Intel and co-founder of a highly successful venture fund is a special advisor to Nexus.Gupta has invested in several successful technology ventures that include Speedera Networks, E-Tek Dynamics, Numerical Technologies and RightNow.Sandeep Singhal co-founded the leading Indian health care outsourced services company, Medusind Solutions and is a well-recognized leader in Indian venture capital. Prior to Medusind, Singhal founded eVentures India, a Venture Capital Fund that invested in Indian industry leaders including Makemytrip.com, Contest2win.com.Suvir Sujan co-founded Baazee.com, India's leading e-commerce company that merged with eBay to form eBay India. Sujan has also been an active advisor and angel investor to consumer internet, wireless and retail ventures."Innovation in India is going to come from many different sectors, and Nexus plans to make investments in innovative early and expansion stage companies led by passionate founders and executives," said Gupta."After the first wave of investing in companies based on cost arbitrage,India is finally ready for venture capital in companies driven byinnovation. Some of the best employees at companies in India such asGoogle, Microsoft and Intel are thinking about starting their owncompanies," said Singhal.
