 "Nexus raises $700 million fund to back AI, consumer, fintech startups")
Nexus Venture Partners on Thursday announced the closing of Nexus Ventures VIII, a $700 million fund to back startups focused on artificial intelligence (AI), enterprise software, consumer and financial technology at inception, seed, and Series A stages in India and the US.
Nexus VIII has the support of world-class limited partners, the majority of whom have been with the firm since the early days.
“The last few years have been surreal for the technology world with trailblazing breakthroughs in generative AI and an unprecedented pace of AI adoption across consumers and businesses alike,” Nexus Venture Partners said. “Agentic AI is transforming how work gets done, bringing a whole new wave of augmentation and automation across industries,” the firm added.
“Over the years, we have had the pleasure of backing several founders from the early days of their journeys, who have gone on to take their companies public or are poised to do so soon. With Fund VIII, we’re doubling down on visionary entrepreneurs solving the hardest problems and shaping the next wave of global innovation,” Nexus further said.
Nexus’ sixth fund was $485 million and seventh fund was $700 million. The total assets under management for the firm is now about $3.2 billion.