Puneet Kumar, cofounder of the daily essentials startup SuprDaily, has exited his role at venture capital firm Nexus Venture Partners, less than two years after joining in 2024. His departure marks a return to entrepreneurship, with reports suggesting he is building a new startup in stealth mode. This move comes shortly after Nexus closed its eighth fund, signaling a period of transition both for Kumar and the firm.
Kumar’s Role at Nexus
Kumar joined Nexus as a venture partner in May 2024, a position focused on supporting portfolio companies with operational and strategic guidance rather than leading investment deals. Prior to this, he spent approximately a year at Y Combinator as a group visiting partner, helping with startup selection and the accelerator’s demo day processes. His experience in both early-stage startup operations and venture capital made him a valuable addition to Nexus’ team.
Entrepreneurial Background
Kumar is widely known for cofounding SuprDaily in 2015 alongside Shreyas Nagdawane and Rohit Jain. The startup, which specialized in daily essentials delivery, was acquired by Swiggy in 2021 and subsequently integrated into Swiggy’s quick commerce arm, Instamart, in 2024. His entrepreneurial journey has positioned him as a prominent figure in India’s quick commerce and startup ecosystem.
Return to Entrepreneurship
According to sources cited by ET, Kumar is actively exploring new entrepreneurial ventures and is building a startup in stealth mode, though details remain under wraps. His exit reflects a broader trend of successful founders returning to the startup ecosystem after stints in venture capital. Kumar’s experience at both Y Combinator and Nexus provides him with a unique perspective on startup growth and investment strategy.
Timing and Nexus’ Recent Developments
Kumar’s departure comes soon after Nexus Venture Partners closed its eighth fund, Nexus Ventures VIII, with a corpus of $700 million. The fund will focus on early-stage investments in India and the United States, targeting sectors such as artificial intelligence, enterprise technology, consumer services, and fintech. This fundraising follows the firm’s previous $700 million fund, which closed in 2023, demonstrating consistency in its investment strategy.
Nexus Venture Partners Overview
Founded in 2006 by Naren Gupta, Sandeep Singhal, and Suvir Sujan, Nexus primarily invests in seed and Series A startups, managing a total of $3.2 billion across eight funds. Its investor base includes global pension funds, family offices, and endowments, reflecting a strong institutional backing. The firm’s portfolio spans high-profile companies such as Delhivery, Infra.Market, Zepto, Rapido, and Postman, among others.
Strategic Investments and Exits
Nexus has actively participated in the growth of its portfolio companies, including doubling down on Zepto’s $450 million funding round last October. Overall, the firm has invested in over 130 startups and successfully exited around 30, including notable names like Delhivery, MapmyIndia, Unicommerce, PaySense, and SEDEMAC. Its track record underscores its focus on scaling disruptive businesses across multiple sectors.
Puneet Kumar’s exit from Nexus marks a significant shift as he transitions back to building startups, leveraging his extensive experience in entrepreneurship and venture capital. Meanwhile, Nexus continues its focus on early-stage investing with a robust fund and a diversified portfolio. Observers of the Indian startup ecosystem will likely watch Kumar’s next venture closely, given his track record with SuprDaily and strategic insights from Nexus.