NuVentures, a venture capital firm established in 2015 by experienced startup investor Venk Krishnan, has announced a new fund totaling $75 million. Located in the US, this fund aims to support entrepreneurs with strong ties to India. Krishnan has been involved in the Indian startup scene since 2002, beginning with his investment in NetKraft and later in Mu Sigma, the analytics firm founded by Dhiraj Rajaram.
Over the years, he has primarily operated as an angel investor, backing more than 47 companies, including notable names like Third Wave Coffee, BigBasket, Acko, HomeLane, Geist Beer, Lucidity, and Foxtale.
Krishnan now views NuVentures as a more organized entity, focusing on investments that provide tangible value, in contrast to earlier investments that were primarily driven by the founders’ enthusiasm. The fund aims to invest in approximately four to five startups each year, with funding amounts between $250,000 and $750,000. NuVentures has already received commitments from the Fund of Funds and high net worth individuals (HNIs) in the United States.
Additionally, it has made investments in four startups, including one established by alumni of Carnegie Mellon. Krishnan remarked, “Previously, we didn’t offer significant value, but our new fund brings value now.”
He emphasized that the $75 million fund’s main advantage will be its capacity to link startups with customers, facilitated through NuWare, a technology company founded by Krishnan that has been operating for 30 years and is based in New York.
“We will take our startups directly to our customers to get the market feedback on their products, including a POC,” Krishnan said.
The primary obstacle for startups is securing access to markets and customers. NuVentures aims to tackle this issue by providing an early entry point via NuWare. The company serves clients in multiple industries, including financial services, retail, and healthcare.
“They (customers) give us feedback if it will work or not,” Krishnan said.
According to Krishnan, they will support startups with a significant connection to India. This includes startups located in India targeting the US market, as well as those based in the US that conduct their engineering operations in India. Currently, most of NuVentures’ investments will concentrate on US-based startups, supplemented by some from India. The main focus areas for this segment will be AI, SaaS, and consumer technology. Additionally, they aim to implement sufficient protections for minority investors.
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