Prime Venture Has A New Partner Emeritus

Prime Venture, a Bengaluru based seed fund venture, has now roped in the veteran investor, Ashish Gupta as Partner emeritus. They have earlier brought in Raj Mashruwala as their prime emeritus years back.

Founded in 2012 by Sripathi Acharya, Sanjay Swamy, and Amit Somani to provide capital for the startups. The company is now currently investing its third fund of $72 Million which they earlier raised in 2018. Ashish Gupta would be serving as the mentor and advisor of the company’s portfolio ventures and will be a part of the investment committee.

Gupta was the founder of Junglee, a price comparison website which was later owned by Amazon. The Standford Graduate has also been a board member of Pubmatic, Simplilearn, and Naukri. He has also been a prime investor of various ventures like Pinelabs, Daksh, which was acquired by IBM, MakeMyTrip, Upwork, Perfios, and Redbus.

Commenting on his new association, Ashish Gupta said, “The Indian startup ecosystem is in a very vibrant phase of its evolution and Prime is well-positioned to be a key player in the building of Digital India. I’ve known all the partners, Shripati, Amit, Sanjay, and Raj for the better part of the last 30 years and am delighted to be working closely with them in helping shape Prime’s next phase of growth.”

“Our success is largely dependent on our abilities to choose the right entrepreneur and the right opportunities. To that end, the quality of decision-making is something we can always improve, and get in people, who have different insights and experiences. We have been really fortunate to have a longstanding relationship with Ashish for the better part of 30 years,” says Sanjay Swamy, one of the founders of Prime Venture. He also added,” We are right in the middle of Fund-3. We are finalizing 2-3 fresh investments, and have been more active during the Covid-19 pandemic.”