Nexus Venture Partners has established Nexus Seed, a programme through which Nexus will infuse Rs 20 lakh to Rs 2 crore ($50k-$500k) into up to 50 companies over the next five years.
The Nexus Seed programme will focus on technology and Internet entrepreneurs.
Nexus has a total fund size of $320 million and an active portfolio of over 25 companies across technology, internet, media, consumer, business services and agribusiness sectors such as Komli, Suminter, Dlight, DimDim, MapmyIndia, Deccan Pharma, Gluster, Cloud.com, Pubmatic, Prana and Netmagic.
Dr Naren Gupta, Managing Director of Nexus said, “This programme will enable selected entrepreneurs to get access to expert help as well as seed stage capital which they can use to refine the concept and reduce some of the early stage risks.”
In September, Nexus Venture Partners, along with Trinity Ventures, Mohr Davidow Ventures and Stanford University, invested $14 million in Aryaka Networks, US-based provider of the world’s first cloud-based application acceleration and WAN optimization solution with a significant presence in India. In November, it participated in the $8.5 million Series B funding round by Gluster, a US-based open source storage solutions provider.