Prime Venture Partners' close fourth fund at $120 Million

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Prime Venture Partners' close fourth fund at $120 Million
25 Feb 2022
6 min read

News Synopsis

Prime Venture Partners announced the closing of its fourth fund at $120 million. The fund received an oversubscription and crossed the set target of $100 million.  It plans to invest in disruptive technology companies across fintech, edtech, healthtech, consumer internet, and Global SaaS. The total capital value of the company is over $250 million. The fourth fund is backed by International Finance Corporation, part of the World Bank Group,  a top-tier university endowment, a top-tier fund of funds, and other global technology entrepreneurs, reflecting the strong performance of earlier funds. More than 90% of companies backed by Prime VP at seed stage go on to raise follow-on capital led marquee investors in India and globally within 18 months with a highly selective and active involvement strategy. As per the Cambridge Associates benchmarks, all of Prime VP's funds are in the top rank of all global VC funds of their respective vintages. Over the last decade, Prime VP was the first institutional investor and has built one of the richest portfolios of fintech startups. These include Niyo, a  universal neobank with savings, Ezetap, a POS receiving platform, Freo (Moneytap), a neobank for consumer credit, KredX, an invoice rebate platform, and OTO, the first motorcycle leasing solution. In addition, three of Prime's early fintech investments have been acquired by well-known brands in the last 12 months. This includes Cred's $ 180 million business spending, payments, acquisition of travel management platform Happay, Stripe's financial business startup Recco, and Amazon's retail technology startup Perpule.

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