The fourth fund will look to make at least 20 new investments in the next few years with a ticket size of around $1-2Mn.
Prime Ventures had raised its last fund of $72M in 2018, a second fund of $46M in 2015 and a $8M first fund in 2012
The VC firm also announced that it is actively looking to expand its leadership team by adding a fourth partner.
Early-stage firm Prime Venture Partners today announced the close of its fourth fund of $100 Mn, with a first close of $75 Mn (INR 556 Cr). The fourth fund will look to make at least 20 new investments in the next few years with a ticket size of around $1-2Mn.“Prime has both the conviction and competence in early-stage investing and we aim to back companies that will lead this once-in-a-generation transformation. We see ourselves continuing to build Prime as the top-choice partner for early-stage entrepreneurs who are building category-defining companies and seek not only financial capital but also an active investor with deep conviction,” said Amit Somani, managing partner, Prime Venture Partners in a statement.“I think the dark spot in the Indian VC ecosystem is the lack of viable exit options. The plethora of startups who are going public in Indian exchanges will surely provide more exit options for VCs going forward. We are also seeing a rise in large funding rounds which may also provide partial exits to early existing investors. I also think there will be a lot more acquisitions as more privately-funded startups go public,” added Somani.
Prime Venture’s fourth fund saw investments from international Limited Partners (LPs) including 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.