Nexus Venture Partners whose major focus is technology start-ups in India, has raised $270 million for its third fund, reports Reuters. The fund investors include endowments, foundations, and financial institutions across North America, Europe and Asia.

The pooled funds will be used to fuel India’s technology picture by helping Indian start-ups penetrate international markets. 

“We are very grateful to our investors for their continued commitment to the Nexus team and for endorsing our “entrepreneurs’ first” investment philosophy.  All major investors in prior funds participated in Nexus III,” said Naren Gupta, Co-Founder, Nexus Venture Partners in a company statement. “India has the talent to build leading global companies.  We want to play a role in creating an India-based ecosystem where passionate entrepreneurs can realize their dreams.”

The Nexus team aims to maintain its focus on early stage companies and wished to continue to invest in disruptive opportunities across technology, Internet, media, consumer and business services sectors.

Nexus Venture Partners also announced the promotion of Jishnu Bhattacharjee to Managing Director. Jishnu will be based in Silicon Valley and will continue to help technology companies out of India expand in the US and achieve global leadership.

Nexus Venture Partners was launched in 2006 by Naren Gupta with the primary goal of providing capital to exceptional Indian entrepreneurs and sharing company-building expertise with them. Nexus has invested in over 45 companies since inception. Nexus has backed star-ups likePubmatic,Cloud.com and Snapdeal.com.

India is a fairly hot market for start-ups as some major venture firms have a presence there, from Sequoia Capital, Accel Partners, Matrix and Canaan. But total venture investment is relatively small, with some $300 million to $400 million invested in start-ups, according to Gupta.