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HomeNewsStartupsWith 60 million in fund 3, Bangalore based Prime Venture to step up investment in Digital India

With 60 million in fund 3, Bangalore based Prime Venture to step up investment in Digital India

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Prime Venture will now step up concentrated investments in sectors like Digital India, fintech

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Bangalore-based seed fund and incubator has raised 60 million in its third round of . Led by serial entrepreneurs , and Amit Somani along with partner emeritus, Raj Mashruwala, Prime Venture will now step up concentrated investments in sectors like , fintech, healthcare, education, logistics and global SaaS solutions.

Founded in 2011, previously, Prime had raised its first fund of $8 million in 2012, and a $46 million Fund 2 was raised in 2015. It was the first investor in ZipDial, a missed-call based startup that was acquired by Twitter in 2015, and Ezetap, a mobile payments company that has since raised about $50 million in follow-on capital.

Prime is one of the first institutional investor in a startup space in India. The firm supports entrepreneurs with business and product strategy, refining operating metrics, hiring, partnerships, marketing, finance, all the way through raising subsequent capital. While most of Prime's portfolio companies are focussed on the Digital India opportunity, Prime also has several companies that target the US, Middle-East and other International markets.

“Digital India is exploding; there has never been a more exciting time to be an entrepreneur in India. We are privileged to partner with amazing entrepreneurs who are building some of the most exciting emerging companies in India. We are also grateful for the fantastic support from our existing Limited Partners (LPs) and delighted to welcome some amazing new long-term LPs to our journey,” said Sanjay Swamy, co-founder & managing partner, Prime Venture Partners.

“There has never been better time for Indian innovators. When most of the world is plagued by political and economic uncertainties, India offers stable policy, level playing field and commitment to build digital economy. Our domain expertise coupled with active engagement enables us to build a deep understanding of the business and unique relationships with the founders,” said Rajesh Mashruwala, Partner Emeritus, Prime Venture Partners.

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M Kalam
M Kalam
M Kalam covers technology and e-goverance for TechObserver.in.
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