India, Dec. 4 -- Adding new capital to its India-US investment strategy, venture capital (VC) firm Nexus Venture Partners has closed its eighth fund at $700 Mn to back startups in India and the US. In a statement, the firm said its eighth vehicle, Nexus Ventures VIII, will back early stage startups operating in segments like AI, enterprise tech, consumer services and fintech.

"Nexus's integrated approach, with depth of experience and relationships across the Bay Area and India, enables it to focus on the two largest startup ecosystems in the world - the US and India," the VC firm said in a statement.

Important to note that the total corpus of Nexus' seventh fund, which it closed in 2023, was also $700 Mn. The firm has maintained its inv...