Prime Venture Partners, a Bengaluru-based venture capital firm, closed its fifth fund, amassing $100 million to support early-stage businesses in a variety of industries, including fintech and artificial intelligence.

 

Fund V will assist 16–18 businesses in important industries like FinTech, AI/DeepTech, SaaS, and Digital India, with more than 80% of the fund already committed by institutional investors from the US, Singapore, Europe, and the Middle East.

“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.

The company is still making investments from its fourth fund, he continued, and anticipates closing one or two more agreements before moving on to Fund V.

“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.

Speaking about exits, he mentioned that a few businesses in the company's portfolio are thinking about going public.

Among the acquisitions are Perpule (Amazon), Recko (Stripe), and Happay (Cred).  with Razorpay's Ezetap.

“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.

 

In 2012, 2015, 2018, and 2022, Prime Venture Partners raised $8 million, $46 million, $72 million, and $120 million, respectively.