Brij Bhushan, co-founder of hyperlocal ecommerce startup Magicpin, has taken on a new role as a venture partner at Prime Venture Partners, an early-stage venture capital firm based in Bengaluru. In his new position, Bhushan will be a key member of the investment team, playing a significant role in making investment decisions, managing the firm’s portfolio, and assisting with fundraising efforts.
Bhushan emphasized that early-stage startups require more than just financial backing; they need dedicated team members who can guide them through the complexities of growing a business. Drawing from nearly a decade of experience as a founder, Bhushan expressed excitement about returning to the venture capital space, where he can use his expertise to support other entrepreneurs alongside a team committed to helping startups succeed.
Before co-founding Magicpin in 2015, which later attracted investment from Zomato, Bhushan served as Vice President at Nexus Venture Partners. He announced his departure from Magicpin in April 2023. The company had last secured $60 million in funding in November 2021, led by Lightspeed India and Zomato.
Amit Somani, Managing Partner at Prime Venture Partners, welcomed Bhushan, noting that his blend of strategic insight, operational excellence, and long-term vision is invaluable for building successful companies.
In addition to Bhushan’s appointment, Prime Venture Partners has promoted Gaurav Ranjan from Vice President to Principal-Investments. Ranjan has been instrumental in sourcing and evaluating around 2,000 startups and has worked closely with numerous early-stage portfolio companies, including Gallabox, OTO, Capital, Poshn, and HitWicket.
Founded in 2012, Prime Venture Partners has invested in over 50 startups across various sectors, including fintech, enterprise SaaS, consumer internet, edtech, healthcare, logistics, and electric vehicles. Its diverse portfolio features companies like WheelsEye, MyGate, Quizizz, PlanetSpark, Dozee, Zuper, and Niyo.