Primary Venture Partners raises $100M to invest in NYC startups

Primary Venture Partners, a seed firm that invests exclusively in New York City startups, has raised a second fund of $100 million.

That focus is unusual — even Lerer Hippeau, a firm that’s closely associated with New York, makes some investments outside the region.

Primary’s Ben Sun (pictured above with his co-founder Brad Svrluga) said he’s betting, in part, on the New York workforce, particularly “the talent that came into the tech ecosystem post-financial crisis” — a shift that gave the city more talented entrepreneurs, plus a talent pool that they could draw from to build their companies.

After all, Sun noted that employment in New York’s tech sector grew by 57 percent between 2010 and 2016.

Read full article here.

Primary VC