Prime Venture Partners has announced its fourth fund of US 100 million dollar, with a first close of 75 million dollar (Rs 556 crore).
Prime had raised its last fund of 72M dollar in 2018, a second fund of 46M dollar in 2015 and a 8M dollar first fund in 2012.
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.
Fund Four investors include the International Finance Corporation (IFC), part of the World Bank Group, a top-tier university endowment, several returning family offices and institutions, and numerous global technology entrepreneurs.
Founded in 2012 by Shripati Acharya and Sanjay Swamy, Prime added Amit Somani as a partner in 2015. The firm follows a model of being highly selective and invests in only 5-6 companies a year.
As per the Cambridge Associates benchmarks, all of Prime's funds are in the top decile of all global VC funds of their respective vintages. Funds I to III are committed across 32 companies spanning sectors such as fintech, healthcare, SaaS, education etc.