Bengaluru-based early-stage VC fund, Prime Venture Partners, announced the final close of its fourth fund (Fund IV) at $120 million (Rs 900 crore).
In addition to existing investors, Fund IV is backed by International Finance Corporation (IFC) — part of the World Bank Group), a top-tier university endowment, a top-tier Fund of Funds, and several global technology entrepreneurs, according to a statement.
As per the statement, the fund was oversubscribed and has exceeded its target of $100 million in commitments and the capital will be used to invest in disruptive technology companies across fintech, edtech, healthtech, consumer internet, and global SaaS.