NuVentures introduces $75 million fund to invest in startups with India connect

NuVentures, an early-stage venture capital firm founded by investor Venk Krishnan, has announced a $75 million fund aimed at supporting startups with a strong India connection.

The firm, based in the United States, will focus on investing in AI, SaaS, and consumer technology startups that are either headquartered in India and looking at the US market or based in the US with engineering teams in India.

Structured investment approach

Krishnan, who has been an active participant in India's startup ecosystem since 2002, started investing with NetKraft before backing companies like Mu Sigma, BigBasket, Acko, HomeLane, Third Wave Coffee, Geist Beer, Lucidity, and Foxtale.

Previously, his approach was largely that of an angel investor, selecting startups based on founder passion and market potential. With NuVentures, the firm has evolved into a structured investment entity, offering not just capital but also market access and strategic value-adds.

“We will take our startups directly to our customers to get real market feedback, including a proof of concept (PoC),” Krishnan told YourStory.

NuWare, a New York-based technology company founded by Krishnan, will serve as a bridge between NuVentures’ portfolio startups and potential customers across sectors like financial services, retail, and healthcare.

According to Krishnan, one of the biggest challenges for startups is securing early customers.

Investment focus and strategy

NuVentures will invest in four to five startups per year, with investment sizes ranging from $250,000 to $750,000. The fund has already secured commitments from high-net-worth individuals (HNIs) and a Fund of Funds in the US. It has also made investments in four startups, including one founded by Carnegie Mellon University alumni and another backed by Y Combinator, Pivot Robotics.

With the Indian startup ecosystem facing a funding slowdown, Krishnan believes that venture capital firms are becoming increasingly selective. “Investors now want to see a clear path to revenue or profitability before committing funds,” he noted.

Unlike many VC firms, NuVentures will not charge a large management fee, and investors will have the flexibility to decide which startups they want to back.

The firm has also expanded its decision-making team, moving away from Krishnan’s solo investment approach. Three new partners—Visveswaran Kartik, Neel Mukerji, and Prabhakar DJ—have joined NuVentures to bring collective decision-making to the firm’s investment strategy.