Venture capital fund Prime Venture Partners has closed its fifth finance at $100 million to back early-stage new companies over fintech, and artificial intelligence, among others.

The finance plans to contribute between $2.5 million and $3 million in 16-18 new companies. It'll moreover save a small portion of its reserves for extra ventures in greater companies inside its portfolio.

Since its beginning, Prime Venture Partners has contributed around $200 million in Indian new businesses in fintech companies like Freo (once in the past Moneytap), Niyo, MyGate, and the health tech startup Dozee.

Prime Venture has too made successful exits from a few speculations on Tracxn, Recko (obtained by Stripe), Happay (obtained by Cred), Ezetap (obtained by Razorpay), and Perpule (acquired by Amazon).

Final week, former Venture Highway executive Aviral Bhatnagar's VC firm, A Junior VC, closed its to begin with Rs 100 crore finance for pre-seed speculations in India, whereas Together Finance reported plans to check the final near of its $150 million Fund II by June.

Within the past year, Stellaris Venture Partners, Ivy Cap, Sorin Ventures closed reserves with the measure of $150 million to $300 million.