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By Reuters Jan 4, 2023 5:27:27 PM IST (Published)
India's Nexus Venture Partners is in advanced talks to raise a $700 million fund, the second-biggest such pool to be garnered in the country in the past year, to invest in domestic and US-based technology firms, two sources with direct knowledge said.
India's Nexus Venture Partners is in advanced talks to raise a $700 million fund, the second-biggest such pool to be garnered in the country in the past year, to invest in domestic and US-based technology firms, two sources with direct knowledge said.
The planned fundraising, which one of the sources said will close within two months, is an indication that investors may be starting to get more comfortable with Indian technology company valuations after the poor market performance in 2022 of some high-flying startups and amid a global tech sector rout.
It would also expand the pool of funds available to startups, at a time when fundraising by Indian startups fell by a third last year to $24 billion, Venture Intelligence data showed.