Prime Venture Partners Launches $100 Million Fund for Early-Stage Startups

Prime Venture Partners has recently announced the launch of its fifth fund, with a target size of $100 million aimed at supporting early-stage startups that specialise in fintech, artificial intelligence, and other sectors.

The fund intends to allocate between $2.5 million and $3 million for investments in approximately 16 to 18 startups. Additionally, a small portion of the fund will be set aside for follow-up investments in larger firms within its existing portfolio.

Since its establishment, Prime Venture Partners has committed around $200 million to Indian startups, particularly in fintech, backing well-known companies such as Freo (previously known as Moneytap), Niyo, MyGate, and the health technology firm Dozee.

The firm has achieved notable exits from various investments, including Tracxn, Recko (which was acquired by Stripe), Happay (acquired by Cred), Ezetap (which Razorpay acquired), and Perpule (which Amazon acquired).

Recently, A Junior VC, a new venture capital firm led by Aviral Bhatnagar, a former executive at Venture Highway, has successfully closed its inaugural fund of Rs 100 crore for pre-seed investments in India. Alongside this, Together Fund announced its intention to finalise the closing of its $150 million Fund II by June.

In the previous year, other venture capital players like Stellaris Venture Partners, Ivy Cap, and Sorin Investments have also successfully closed funds ranging from $150 million to $300 million.