Nexus Venture Partners opens office in Bangalore, expands team in India

Fri Jul 13, 2012 12:02am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

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Nexus Ventures Partners will soon start operations from Bangalore and the venture capital fund is also expanding its team to partner with Indian entrepreneurs.

Sameer Verma, who is working in firm's Mumbai office, will be relocating to start operations in Banglore. Verma has several years experience with the companies including Cloudbyte, Stoke, Tessolve and One97, which are involved in early-stage investing in technology companies in the US and India The firm plans to hire more people for its Bangalore office.

"We have been fortunate to work with an exceptional group of entrepreneurs. We strive to be the best value-added partner for management teams. Our Bangalore office will work with our Mumbai and Silicon Valley teams to support our expanding group of partner companies in the region," Naren Gupta, MD & Co-founder, Nexus Venture Partners in a statement.

The firm has also roped in Parag Dhanuka, as vice-president, and Arun Madhu, as general counsel, for its Mumbai office.

Dhanuka, who has several years of operating experience in technology at Google and Komli Media and consulting experience at The Boston Consulting Group, has joined the investment team of Nexus Venturs Partners, Mumbai. Dhanuka, an MBA from Indian School of Business, a B. Tech in computer science from IIT Kharagpur, holds two US patents.

Madhu, who joined the firm from Phoenix Legal, where he was working as Principal Associate, has transactional experience with VC/PE funds, apart from advising entrepreneurs and companies on investments and exits. A National Law University, Jodhpur, product, Madhu started his career with Trilegal in 2007 and moved to Phoenix Legal with the founding team in 2008.

Nexus Venture Partners has $320 million under management and has an active portfolio of more than 40 companies across technology, internet, media, consumer, business services sectors. The firm has invested in many companies including Cloud.com (Cloud provisioning platform acquired by Citrix), Gluster (Open source cloud storage, acquired by Red Hat), Pubmatic (Publisher Ad revenue optimization), DimDim (Open Source Web Conferencing acquired by Salesforce.com), Snapdeal.com (Daily deals platform) and MapMyindia (Digital Navigation).

Netmagic, a managed Services and Cloud company acquired by NTT, Komli, an online ad network, animation services company Prana and online wholesale cash & carry platform Bigshoebazaar have also received funding from Nexus Venture Partners.

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