Prime Venture Partners, an early-stage venture capital firm, has raised $75 million towards the first close of its $100-million fourth fund, amid unprecedented deal activity in the Indian startup ecosystem.
- Prime Venture Partners raised its third fund of $72 million in 2018, its second fund of $46 million in 2015 and its first fund of $8 million in 2012.
- The investors, or limited partners (LPs), in the new fund include International Finance Corporation, university endowments, several family offices and institutions, and tech entrepreneurs.
The portfolio: Prime Venture Partners, which typically backs companies in sectors such as fintech, edtech, healthtech, consumer internet and software-as-a-service, aims to expand into new areas—notably decentralised finance and electric vehicles—with the fourth fund.
- The Bengaluru-based VC fund, which typically invests $500,000 to $1 million, might increase the ticket size amid record fundraising by Indian startups, which raised $20.76 billion across 583 deals between January 1 and August 20.
