Fintech-focussed early-stage venture capital firm Prime Venture Partners has announced its fifth fund of $100 million.

 

The Bengaluru-based VC said it has already received commitments of around 80% of the fund size, and is expected to close the fund in the next few months.

The Fund V expects to deploy the money in the second half of this year -- supporting close to 16-18 companies across fintech, AI/deeptech, and software as a service (SaaS). 

The cheque size per startup is expected to be between $2-4 million.

Few months ago, Magicpic co-founder Brij Bhushan joined as Prime VP as a partner. 

Since 2012, the firm has backed more than 50 startups including MyGate, WheelsEye, Quizizz, PlanetSpark, Dozee, and Zuper. The firm has exited investments in Happay (Cred), Recko (Stripe), Perpule (Amazon), Ezetap (Razorpay), and Tracxn (post its IPO).