SAN FRANCISCO – Nexus Capital Partners expected a final close on $130 million for Nexus Capital Partners II. Since the fund’s first close in June, Fund II has invested $6 million in eCircles and Acme Software.
Nexus II will make larger investments than the firm’s first fund, the $30 million Nexus Capital Partners I, investing as much as $10 million per company in the Internet and software industries. Nexus I, which committed as much as $3 million per portfolio company, achieved an approximately 300% rate of return and included investments in publicly-traded phone.com and iVillage.
The fund’s other portfolio companies include Persistence Software, enCommerce Inc., Garden.com, Spear Technologies Inc. and Object Switch. Horning said Nexus II will invest in Asia Online if the company decides to raise another private round of financing (story page 31).
He did not disclose the identity of the fund’s limited partners. Nexus I’s 57 limited partners included individuals from the software, Internet and venture capital industries.