Prime Venture Partners, has announced its fourth fund of US$100 million, with a first close of $75 million (INR 556 crore). Prime had raised its last fund of $72M in 2018, a second fund of $46M in 2015 and a $8M first fund in 2012.
Fund Four investors include the International Finance Corporation (IFC), part of the World Bank Group, the university endowment, several returning family offices and institutions, and numerous global technology entrepreneurs.
It said in statement that it will continue to focus on being the institutional investor, maintaining its investing model in early-stage technology startups. In addition to existing focus areas of Fintech, EdTech, HealthTech, Consumer Internet and Global SaaS, the firm expects to expand into new areas, notably Decentralised Finance (DeFi)/Crypto, Electric Vehicle and Gaming infrastructure platforms. Prime also announced that it is actively looking to expand its leadership team by adding a fourth partner.
Some of the Prime portfolio companies include the interactive learning startup Quizziz which is used by teachers in 120 countries and is backed by marquee investors such as Tiger Global, Yahoo co-founder Jerry Yang and others. MyGate provides security software solutions for apartments that are being used across 20,000 societies and in 3.5 million households. Digital Health startup MFine is backed by SBI Holdings (Japan) & Heritas & clocks 12,000 daily consultations with more than 600 hospitals as partners.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.