BENGALURU: Prime Venture Partners launched a $100 million venture capital fund to invest in early-stage Indian startups. This move underscores the confidence that investors placed in the long-term prospects of India's digital-native startups.
Its latest fund has secured more than 80% of its capital commitment from global institutional investors, attracting investments from family offices, university endowments, and fund-of-funds. Investors spanned across the US, Singapore, Europe, and the Middle East.The initial investment from the fund will range between $2 million and $4 million, with potential follow-on investments reaching up to $12 million per venture across subsequent funding rounds. Prime plans to invest in 16 to 18 startups focused on fintech, AI/deeptech, global SaaS, and Digital India.
The Indian startup landscape has more than 100 unicorns and attracts VC investments exceeding $140 billion during the last ten years. India's robust digital platforms like Aadhaar, UPI, and ONDC foster growth across multiple sectors.
Sanjay Swamy, co-founder and managing partner at Priven Advisors, said limited partners maintain a long-term positive outlook regarding India's startup ecosystem, with newer digital imperatives reshaping India’s digital and economic landscapes. “AI and deeptech are becoming increasingly significant in overall investment strategies. These advancements create product-led growth opportunities that present new areas of investment for investors. With recent tech IPOs demonstrating strong investor appetite, it has set the stage for more high-growth startups to list,” he said. Since 2012, the firm has backed 50 early-stage startups. It has exited investments in Happay (Cred), Recko (Stripe), Perpule (Amazon), Ezetap (Razorpay), and Tracxn post its IPO.
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