Nexus Venture Partners said it has raised a $270 million third fund for early stage investing in India.

The fund was oversubscribed and attracted most of its LPs from the United States, said Nexus co-founder Naren Gupta.

“We had a lot of demand,” Gupta said.

The fund is the firm’s largest, but not a big departure from its $220 second fund, which closed in mid 2008. Nexus’ $100 million first fund dates to 2007.

The partnership, with more than $600 million under management, has made 45 investments in its five years, with exits such as the sale of Cloud.com to Citrix Systems and Gluster to Red Hat.

Gupta said the firm does six to 10 deals a year and anticipates the new fund will invest in about 25 companies. Nexus leads or co-leads about 90% of its deals.

Along with announcing the new fund, Nexus said it promoted Jishnu Bhattacharjee to managing director.

Photo courtesy of Shutterstock.