Early-stage VC firm Prime Venture closes fifth fund at $100 million

Bengaluru-based venture capital fund Prime Venture Partners has closed its fifth fund racking up $100 million to back early-stage startups across fintech, artificial intelligence, among others.

Prime is an investor in fintech startups like digital lending startup Freo (previously Moneytap), forex card distributor Niyo, community management platform MyGate, healthtech Dozee. Since inception the fund has ploughed around $200 million in domestic firms.

Sanjay Swamy, cofounder of Prime Venture Partners, told ET that the fund has received 80% commitments of…