Primary Venture Partners announced it has raised $625 million for its fifth set of funds, positioning the New York-based firm to continue leading pre-seed and seed rounds as founders build companies amid what the firm describes as an AI revolution.
The new vehicle, Primary Fund V, is the firm’s largest to date and reflects a broader push to scale early-stage investing capacity at a time when many venture firms have faced a tougher fundraising environment. In an announcement published February 11, 2026, Managing Partner and co-CIO Brad Svrluga said Fund V is meant to help Primary scale its differentiated model while doubling down on operational support for portfolio companies.
Primary described Fund V as the largest standalone seed firm in the market, framing the raise as an endorsement from limited partners of its ambition to build a seed-focused platform with institutional-scale resources.
Primary said it will continue leading pre-seed and seed rounds across tech sectors, backing founders from San Francisco to Tel Aviv. The firm described its approach as seed investing at institutional scale, emphasizing both check-writing capacity and a sector-partner model that spans multiple categories.
According to the firm, Primary is led by eight sector-focused investing partners, each running strategies across areas including financial services, healthcare, vertical AI, infrastructure and compute, cybersecurity, consumer, go-to-market technology, and what it calls the industrial evolution. The goal, Primary said, is to pair specialized domain knowledge with a scaled platform designed to help companies move faster on talent, revenue, and financing.
A key part of Primary’s pitch is its operating infrastructure. The firm said its investing work is super-charged by an Impact team led by a C-suite of seasoned operators, providing hands-on support at a level it argues is unusual for early-stage venture. Primary also highlighted PrimaryLabs, its incubation engine, which it said has launched multiple companies in its portfolio in recent years. Together, the firm framed these capabilities as a way to deliver results beyond capital alone, particularly as startups navigate rapid product cycles, compute demands, and go-to-market shifts associated with AI-driven software.
In the post, Primary pointed to outcomes from its first fund to argue that its model can translate into performance. Svrluga wrote that nine of the first fund’s 25 investments reached unicorn status, and that two additional companies produced cash exits above $500 million.
He also argued that as Primary grew, it resisted the temptation to use management fees primarily for investor enrichment, instead expanding headcount and internal capabilities in step with fund growth. The firm said it is on a path toward 80 full-time employees, underscoring how its platform has evolved from a boutique seed investor into a larger operating organization.
Looking ahead, Primary said the team expects to make hundreds of hires, drive tens of millions of dollars of revenue pipeline, and support dozens of new financings for portfolio companies this year—an operational agenda it views as increasingly valuable as founders compete in fast-moving AI markets.
Beyond Fund V itself, Primary used the announcement to signal internal product and capability building aimed at what it called an agentic future. The firm said it is rapidly reinventing how it operates by developing new products, technologies, and internal capabilities to better support founders as software becomes more autonomous and workflow-driven.
For founders, Primary’s message is straightforward: in an era where early-stage companies may need stronger execution help—recruiting, pipeline generation, and fundraising support—Primary wants to be a scaled seed partner with specialized investors and an operator-heavy platform behind them.
Fund V, the firm said, is bigger than ever, and it expects it to be better as well, as Primary looks to meet the next wave of founders building the next generation of AI-native companies.
