Nexus Venture Partners has closed a new $700 million fund at a time when global venture capital deployment is gradually recovering and early-stage AI startups continue to attract investor interest.

The firm said the fund will focus on founders building artificial intelligence, enterprise software, consumer and fintech companies across India and the US.

“The last few years have been surreal for the technology world with trailblazing breakthroughs in generative AI and an unprecedented pace of AI adoption across consumers and businesses alike,” said Nexus partners in a media statement on December 4.

“From infrastructure to applications, every layer of the tech stack is getting rewritten by AI, the statement added.

Moneycontrol was the first to report in July that Nexus was preparing t

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