AngelPrime has rebranded to Prime Venture and has raised Rs. 300 crores fund.
The Social+Capital Partnership, a globally renowned venture capital firm, is the anchor investor in the new fund along with several institutional investors from Silicon Valley, New York, Hong Kong, Europe and Singapore.
With this new fund, AngelPrime will now be known as Prime Venture Partners. As a classic venture fund that invests in the seed stage and reserves capital for subsequent rounds, the investment philosophy and horizon is distinct from that of individuals or angel syndicates.
Prime Venture Partners will continue to focus on a handful of start-ups every year, maintaining its deep involvement approach. The firm actively supports entrepreneurs with business and product strategy, hiring, partnerships, marketing, finance, all the way through raising subsequent capital.
“Prime Venture Partners has a unique, hands-on approach to investing in startups, a philosophy we share at Social+Capital. Shripati, Sanjay & Amit bring their rich experience on board and get actively involved in supporting each startup. I am excited about their approach and their ability to tap into the explosive growth in India.” [Chamath Palihapitiya, venture capitalist, founder and managing partner, The Social + Capital partnership]