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Podcast: Sanjay Swamy on why Prime Venture may strike more deals than before

Early-stage venture capital firm Prime Venture Partners, which was founded in 2011, has raised three funds so far and backed companies such as fintech firm NiYo, health-tech firm MFine and security management startup MyGate.

The firm is currently investing out of its third fund. The fund had made the close at $60 million initially in early 2018 but the corpus was later increased to $72 million after receiving more commitments from the Limited Partners.

The venture capital firm has followed a measured approach of striking three to five deals every year, but is yet to make a new transaction public so far this year.

In this podcast, Prime Venture co-founder and managing partner Sanjay Swamy said the fund is on track to remain as active as any other year. The VC firm may even do an extra deal or so, as it is buoyed by increasing quality of startup founders and tailwinds received by some themes because of the Covid-19 pandemic.

He also talked about potential consolidation happening in the startup ecosystem and how its portfolio firms are handling layoffs during this period.

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