The venture capital landscape is undergoing a seismic shift as Primary Ventures closes its massive $625 million Fund V, signaling a new era of seed investing across the United States.

Fund V represents more than just capital; it’s a strategic investment in the next generation of innovative startups emerging from unexpected places. Ben Sun, a co-founder and general partner at Primary Ventures, explains that the investment strategy has evolved beyond traditional geographical boundaries. “The talent, the founder, and the startups are happening everywhere,” Sun emphasizes, highlighting a nationwide approach that moves beyond the traditional Silicon Valley ecosystem.

With an average investment range of $5 million to $10 million, Primary Ventures plans to support 40 to 50 companies over three years, demonstrating a commitment to nurturing early-stage enterprises. The fund’s sector diversity is particularly noteworthy, covering everything from consumer technologies to vertical AI, fintech, healthcare, enterprise solutions, cybersecurity, and infrastructure.

This substantial funding comes at a critical time of technological transformation, where seed investing is increasingly viewed as a distinct asset class. The competition for groundbreaking startup opportunities has intensified, with firms like Sequoia and UnCorck Capital also raising significant seed funds.

Primary Ventures’ portfolio already includes innovative companies like Etched, an AI chip company, Alloy, a risk management platform, and Chief, a women’s networking hub. With $1.65 billion in assets under management, the firm is positioning itself at the forefront of identifying and supporting emerging technological innovations.

The fund’s approach reflects a broader trend in venture capital: recognizing that transformative ideas can originate from anywhere, not just traditional tech hubs. By investing in pre-seed and seed-stage companies nationwide, Primary Ventures is democratizing access to capital and supporting entrepreneurial talent across diverse geographies and backgrounds.