Early-stage enterprise capital agency Prime Enterprise Companions has introduced its fifth $100 million fund with plans to put money into 16-18 startups over the subsequent 4 to 5 years.
“Fund V will deploy preliminary checks of $2-4 million per startup, with follow-on investments reaching as much as $12 million per firm. In contrast to many VC companies that pursue aggressive growth, Prime VP stays dedicated to a disciplined, right-sized strategy,” stated Sanjay Swamy, co-founder and managing companion.
Primarily based in Bengaluru, Prime Enterprise Companions is an India-focused early-stage enterprise capital agency with an advisory workplace led by Amit Somani, Shripati Acharya and Sanjay Swamy. The fund focuses on constructing disruptive product firms in India.
Prime has secured commitments for round 80% of the fund and expects to shut it within the coming months. The agency will begin deploying capital from the fund within the second half of the yr.
The agency will put money into fintech, synthetic intelligence-based companies, and software program as a service startups. It has elevated its cheque sizes from $500,000 to a median of $3.5 million and now focuses on pre-Collection A investments.
Swamy stated the agency goals for a number of profitable investments quite than chasing unicorns. He added that sustaining a constant technique has helped appeal to buyers.
The agency shared its funding philosophy with AIM in a previous interview. Since 2012, the agency has backed over 50 startups, together with Quizizz, Happay, Mygate, MFine, Dozee, NiYO, Sunstone Eduversity, KredX, Wheels Eye, and many others.
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