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Nexus India launches $100mn venture capital fund; Mobile2win and Dimdim to get $5mn each

11-July-2007
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Nexus India launches $100mn venture capital fund; Mobile2win and Dimdim to get $5mn each

Nexus India Capital has closed a $100 million venture capital fund to invest in opportunities across sectors in India. The company’s plan is to invest in both technology start-ups as well as non-technology driven business models. The fund investors include top-tier institutions and strategic family offices from North America, Europe and Asia. Mobile2win and DimDim are the names of the companies that have been officially declared by Nexus India.

Mobile2win is a mobile value-added services enabler in India. Based in Mumbai, the company has built content and application delivery platform that is connected to all the telecom operators in India. Its clients include Sony Television, The Turner Network, Saregama/HMV, Motorola and Hindustan Times. Mobile2win also has a creative team that designs mobile contests, games and marketing campaigns.

Commenting on why Mobile2win and DimDim were the chosen companies, Suvir Sujan, Managing Director, Nexus India, said that both the companies had strong potential to generate a lot of revenue.

“Mobile2win has the strongest relationships with 20 media partners and they have been successful in delivering products on mobile platforms,” he said. He added to his point by saying that Mobile2win had its relationship with each and every telecom operator in the country and that it would need a substantial amount to hire senior talent and create products for all media.

Sandeep Singhal, who is also Managing Director for Nexus India, emphasised on the potentials of DimDim and its ability to build an open source platform for global integration. “DimDim is onto a product that is unique. It will cater to the global market and will enable professionals from across the globe to attend web meetings and trainings on new products and services,” he said.

DimDim’s intention is to make its collaboration affordable and accessible to the world. Consumers, professionals, researchers, NGOs, businessmen and anyone else who wants to collaborate and share information can do so for free with DimDim’s basic version. It is a browser-based service and will enable attendees to avoid a client download.

For the time being, Nexus India has disclosed only its $10 million investment in the two companies. The company will soon declare its investment plans for the remaining companies out of the five that they have opted for.

Nexus’ venture capital fund and its portfolio companies will be advised by successful entrepreneurs and investors in the technology, media, outsourced services, retail and consumer sectors. The founders of the fund and its advisory companies include industry veterans and successful venture investors like Naren Gupta, Founder of Integrated Systems Inc; Sandeep Singhal, Co-founder of a Health Care outsourced services company Medusind Solution; and Suvir Sujan, Co-founder of Bazi.com. Bill Davidow, Senior Executive, Intel, and co-founder of a highly successful venture fund, will be a special advisor to Nexus.

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