Prime Venture Partners, which has backed companies such as Quizizz, PlanetSpark, MyGate, and others, announced the launch of its Fund V with a corpus of $100 million.
With over 80 per cent of the fund already committed by institutional investors from the U.S., Singapore, Europe, and the Middle East, Fund V will support 16-18 companies across key sectors, including FinTech, AI/DeepTech, SaaS, and Digital India.
“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.
He added that the firm is still actively investing from its fourth fund and expects to close one or two more deals before shifting to Fund V.
The firm plans to continue its strategy of backing early-stage startups with strong potential for long-term value creation. Unlike larger funds that face pressure to deploy capital quickly, Prime VP maintains a disciplined, concentrated investment approach.
“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.
Talking about exits, he said that there are a few companies from the firm’s portfolio that are considering an IPO.
“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
The acquisitions include Happay (Cred), Recko (Stripe), Perpule (Amazon). and Ezetap (Razorpay)
Prime Venture Partners’ last four fundraises were for $8 million in 2012, $46 million in 2015, $72 million in 2018, and $120 million in 2022.
