VC Firm Prime Venture Partners closes 5th Fund at $100 million for Early-Stage Startups
Venture capital firm Prime Venture Partners has successfully raised its fifth fund, totaling $100 million, aimed at supporting early-stage startups in sectors such as fintech and artificial intelligence, among others. The fund intends to allocate between $2.5 million and $3 million to approximately 16 to 18 startups, while also setting aside a portion of its capital for follow-on investments in larger companies within its existing portfolio.
Since its establishment, Prime Venture Partners has invested around $200 million in Indian startups, particularly in fintech firms like Freo (previously known as Moneytap), Niyo, MyGate, and the health technology company Dozee. The firm has also achieved successful exits from several investments, including Tracxn, Recko (which was acquired by Stripe), Happay (acquired by Cred), Ezetap (acquired by Razorpay), and Perpule (acquired by Amazon).
Recently, Aviral Bhatnagar's venture capital firm, A Junior VC, which was formerly associated with Venture Highway, announced the closure of its inaugural fund at Rs. 100 crore for pre-seed investments in India. Additionally, Together Fund has revealed its intention to finalize the closure of its $150 million Fund II by June. Over the past year, Stellaris Venture Partners, Ivy Cap, and Sorin Investments have also successfully closed funds ranging from $150 million to $300 million.
“Fund V will deploy initial checks of $2-4 million per startup, with follow-on investments reaching up to $12 million per company. Unlike many VC firms that pursue aggressive expansion, Prime VP remains committed to a disciplined, right-sized approach,” said Sanjay Swamy, Co-Founder & Managing Partner.
“We started Prime to collaborate with founders and provide any and all support necessary at the early stage—something we experienced or missed when we were entrepreneurs,” he added.
“The first fund delivered a 4.6x return through a secondary sale of its LP stake. We have also seen high-profile exits, including acquisitions,” said Swamy.
Since its establishment, Prime Venture Partners has invested around $200 million in Indian startups, particularly in fintech firms like Freo (previously known as Moneytap), Niyo, MyGate, and the health technology company Dozee. The firm has also achieved successful exits from several investments, including Tracxn, Recko (which was acquired by Stripe), Happay (acquired by Cred), Ezetap (acquired by Razorpay), and Perpule (acquired by Amazon).
Recently, Aviral Bhatnagar's venture capital firm, A Junior VC, which was formerly associated with Venture Highway, announced the closure of its inaugural fund at Rs. 100 crore for pre-seed investments in India. Additionally, Together Fund has revealed its intention to finalize the closure of its $150 million Fund II by June. Over the past year, Stellaris Venture Partners, Ivy Cap, and Sorin Investments have also successfully closed funds ranging from $150 million to $300 million.
“Fund V will deploy initial checks of $2-4 million per startup, with follow-on investments reaching up to $12 million per company. Unlike many VC firms that pursue aggressive expansion, Prime VP remains committed to a disciplined, right-sized approach,” said Sanjay Swamy, Co-Founder & Managing Partner.
“We started Prime to collaborate with founders and provide any and all support necessary at the early stage—something we experienced or missed when we were entrepreneurs,” he added.
“The first fund delivered a 4.6x return through a secondary sale of its LP stake. We have also seen high-profile exits, including acquisitions,” said Swamy.
