Prime Venture Partners, an early-stage venture capital firm, announced the final close of its fourth fund at $120 million, exceeding its initial target of $100 million.
The investment firm will look to expand its portfolio into new sectors such as electric vehicles (EVs), business-to-business (B2B), Web3 and gaming infrastructure platforms, in addition to its core focus areas of fintech, edtech, healthtech, consumer Internet, and global Software as a Service (SaaS), the company said in a statement.
In addition to existing limited partners, the fourth fund has received investments from the International Finance Corporation (IFC), a university endowment, a Fund of Funds, and several global technology entrepreneurs.
“We are grateful for and humbled by the unwavering support and confidence of our long-term LPs and new investors, which enabled us to complete an oversubscribed fundraise,” said Amit Somani, managing partner at Prime Venture Partners. “Prime VP is well-positioned with Fund IV to support a new group of category-defining technology startups and inspiring entrepreneurs in India.” Fund IV is already off to a rousing start, and we couldn’t be more optimistic about the breadth of entrepreneurial talent and the rising level of ambition among Indian founders.”
