Prime Venture Partners has successfully closed its fifth fund at $100 million, aiming to support early-stage startups across fintech, artificial intelligence, and other emerging sectors.
With this new fund, Prime Venture Partners plans to invest between $2.5 million and $3 million in approximately 16 to 18 startups. A portion of the capital will also be reserved for follow-on investments in larger companies within its portfolio.
Since its inception, Prime Venture Partners has deployed around $200 million in Indian startups, backing fintech players such as Freo (formerly Moneytap), Niyo, and MyGate, along with health tech startup Dozee. The firm has also seen notable exits, including Tracxn, Recko (acquired by Stripe), Happay (acquired by Cred), Ezetap (acquired by Razorpay), and Perpule (acquired by Amazon).
The announcement comes amid increased venture capital activity in India. Last week, former Venture Highway executive Aviral Bhatnagar’s VC firm, A Junior VC, closed its first Rs 100 crore fund for pre-seed investments. Similarly, Together Fund is set to finalize the closure of its $150 million Fund II by June.
In the past year, multiple VC firms, including Stellaris Venture Partners, IvyCap, and Sorin Investments, have raised funds ranging between $150 million and $300 million, signalling strong investor confidence in India’s startup ecosystem.
