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Early stage fund Prime Ventures Partners has put together a larger fund for its third pool, worth Rs 400 crore or USD 60 million, managing partner Sanjay Swamy said.
The investor company, which has a portfolio lopsided towards fin-tech by almost 45%, will continue to focus on the sector.
“Today a lot of physical functions are getting digitised. For instance, MyGate is digitising security system for residential complex, or NiYO which digitises niche HR functions. We will be interested in such solutions,” Swamy added.
Prime Ventures typically invests about USD 2.5 to 3 million, in at least 3-4 early stage startups, in a year.
Prime Ventures had raised its first fund of USD 8 million in 2012, followed by its second fund of USD 46 million in 2015. It was the first investor in Zipdial, a mobile marketing platform, which the investor exited when it was acquired by Twitter in 2015.
Prime’s other portfolio companies include Ezetap, KredX, Moneytap, HackerEarth, and Tracxn among others.
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