Seed-stage focussed venture capital firm, Prime Venture Partners, which recently close its third fund at $60 million in March this year, is planning to increase its focus on start-ups working in the logistics and SaaS (software as a service) segment, beside it usually invest in.
Launched in 2011 by serial entrepreneurs Amit Somani, Bala Parthasarathy, Sanjay Swamy and Shripati Acharya, Prime Venture, which was earlier known as AngelPrime, is known for investing in edtech, fintech and healthcare-based startups targeting global markets. In its total portfolio of 20 startups, Prime Venture has 9 fintech startups it has invested in that shows that the firm has been bullish on financial technology and now it want to focus on Logistics and SaaS-based startups which are based out of India but targeting overseas markets.
Sanjay Swamy, co-founder and managing partner at Prime Venture Partners, said in a statement, “Our theme is usually if the sector is getting digitised and whether the firm has a compelling use case. In this regard, besides financial services, you will see a lot from us in the health care, logistics and education spaces.”
“We are quite bullish on startups in the SaaS segment, which are based out of India and are selling overseas. Probably, we will do some deals in this segment next year,” he said.
Synup, a provider of SaaS-based solutions that enables local businesses to manage their online presence, counts Prime Venture as its major investor. Last September, Synup raised $6 million in a financing round led by Vertex Ventures, in which Prime Venture also participated being an existing investor.
Swamy however also confirms that the firm would continue to invest in fintech space as well.
Last week, Prime Ventures participated in $3 Mn funding round of Bangalore-based Quizizz, which is an e-learning app. Prior to this — in May this year — it led $4.2 Mn funding of Bangalore-based mfine, an app-based on-demand healthcare service provider.
Notably, Prime Venture was also an investor in ZipDial — a mobile marketing firm — which was acquired by Twitter in 2015.
In January this year, Prime Venture Partners also participated in Bengaluru-based fintech startup NiYO Solutions raised $13.2 million in its Series A funding.
Via – Business Standard