Venture Intelligence (TSJ Media Pvt. Ltd.)
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Prime Venture makes first close of $100-M 4th fund at $75-M
Bangalore-based Prime Venture Partners (PVP) has announced a first close of USD 75 million (INR 556 crore) for its fourth fund that is targeting a total corpus of USD 100 million (about INR 742.4 crore). The fund will invest in startups working in fintech, edtech, consumer internet, crypto, electric vehicles and gaming infrastructure platforms. Investors in the fund include the International Finance Corporation (IFC), a top-tier university endowment, several returning family offices and institutions, besides global technology entrepreneurs. Founded by Shripati Acharya and Sanjay Swamy, Prime added Amit Somani as a partner in 2015. PVP is now looking to add a fourth partner. It had raised its first fund in 2012 of USD 8 million, followed by a USD 46 million fund in 2015, and the third fund of USD 72 million in 2018.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.