Prime Venture Partners Closes USD 100 Mn Fifth Fund to Back Early-Stage Startups The fund will focus on 16-18 startups, with initial investments ranging between USD 2.5 million and USD 3 million, while also reserving capital for additional funding rounds in its high-growth portfolio companies.
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Venture capital firm Prime Venture Partners has successfully closed its fifth fund at USD 100 million, reinforcing its commitment to backing early-stage startups across fintech, artificial intelligence (AI), and Software-as-a-Service (SaaS).
The fund will focus on 16-18 startups, with initial investments ranging between USD 2.5 million and USD 3 million, while also reserving capital for additional funding rounds in its high-growth portfolio companies.
Since its inception in 2012, Prime Venture Partners has deployed over USD 200 million into the Indian startup ecosystem, investing in notable fintech companies such as Freo (formerly MoneyTap), Niyo, and MyGate, alongside health tech innovator Dozee.
The fund's investor base includes family offices, university endowments, and fund-of-funds from the USA, Singapore, Europe, and the Middle East, demonstrating strong international backing.
Unlike many venture capital firms that increase fund sizes in subsequent rounds, Prime Venture Partners has opted for a consistent strategy, emphasising hands-on engagement with founders. "We wanted to stick with the strategy that has worked for us. Our partners have operational experience, and our investors appreciate our consistency," said Sanjay Swamy, managing partner and co-founder of Prime Venture Partners.
Over time, the firm has shifted its focus from seed-stage to pre-Series A rounds, seeking startups with a proven product-market fit and early traction. Its average investment size has also increased from USD 500,000 to a median cheque of USD 3.5 million. In a strategic move, Prime Venture Partners recently added Brij Bhushan as a partner. Bhushan, formerly a co-founder and COO of Magicpin, brings valuable experience from his tenure at Nexus Venture Partners.
Swamy also emphasised the firm's approach to portfolio success over unicorn chasing. "LPs don't like VC funds with one big hit and a lot of misses. Our strategy is to have multiple successful investments with meaningful stakes, rather than chasing a single unicorn," he stated.
With over 50 startups in its portfolio, Prime Venture Partners has successfully exited companies like Happay (Cred), Recko (Stripe), Perpule (Amazon), Ezetap (Razorpay), and Tracxn (post-IPO).
This announcement comes amid a flurry of VC fund closures in India. Aviral Bhatnagar's A Junior VC closed its first INR 100 crore fund, while Together Fund aims to finalise its USD 150 million Fund II by June. Other venture capital firms, including Stellaris Venture Partners, IvyCap, and Sorin Investments, have also closed funds in the USD 150 million to USD 300 million range, reflecting sustained investor confidence in India's startup ecosystem.
