Sameer Brij Verma, a prominent investor at Nexus Ventures, has announced his departure from the firm later this year, a move that has surprised the Indian VC industry. Verma is set to launch his own venture fund in India with an initial corpus of at least $150 million, according to a source familiar with the situation.
This unexpected decision has significant ripple effects as Verma has been the face of Nexus Venture Partners, a leading venture firm in India, known for being heavily involved in dealmaking, according to industry insiders.
Verma has played a key role in some of Nexus’ most successful investments, including unicorns like Postman, Hasura, Infra.market, Unacademy, and the recently funded Ultrahuman.
Verma has garnered praise from startup founders in India for his strategic guidance and support, even if they didn’t secure funding from Nexus.
The timing of Verma’s departure is intriguing, considering Nexus recently raised a record $700 million fund. Typically, leadership changes occur before such significant fundraises. Verma has been transitioning his board seats at Nexus portfolio companies to other partners over the past few months, according to a confidential source.
Verma has only confirmed his departure plans from Nexus without further comment. He intends to launch his own fund by the year’s end, focusing on a hands-on approach with startups and engaging actively in their operations, diverging from traditional investment strategies in India.
The new fund will support startups across all stages, as reported by the Indian daily Economic Times first reported.
