PruVen Capital

In the summer of 2020, Ramneek Gupta left Citi Ventures to found PruVen Capital. Gupta had co-founded the venture investing platform at Citi Ventures and served as its co-head of global venture investing, leading investments in more than 25 companies including Square, Jet.com, DocuSign, and Honey; earlier, he led business development at the local marketing platform Zappedy (which was acquired by Groupon), was a partner at Battery Ventures, and held product development roles at PMC Sierra and TiVo. He graduated in mechanical engineering from the Indian Institute of Technology (IIT) Bombay and later earned an MS in mechanical engineering from Stanford University.⁠[1][2][1][1][1][1][3]

Gupta said that at Citi Ventures he had proved that helping startups win their “first reference customer” creates mutual value, so he decided to improve on the model with an independent firm structure and joined forces with Prudential.⁠[2][2]

On December 9, 2020, PruVen Capital officially launched, with a $300 million multi-stage first fund of which Prudential was the sole limited partner. The fund invests in startups in insurtech, fintech, healthtech, real estate tech, and enterprise IT, focusing on North America, Europe, Japan, Singapore, and Australia; it has a five-year investment period and an annual investment pace of $50 million to $75 million, investing a minimum of $5 million per company, an average of $10 million to $15 million over a company’s lifecycle, and a maximum of $30 million. The core investment team included Travis Skelly, Victoria Cheng, and Adi Sivaraman, and at launch the firm had already invested in digital insurance brokerage Newfront Insurance and machine learning platform DataRobot.⁠[1][1][2][4][4][4][4][4][4]

Gupta explained that PruVen operates as an independent firm whose team has the environment and compensation expected in the venture industry while being 100 percent funded by Prudential, and that through the Prudential Catalyst Network then being designed it would connect portfolio companies with Prudential’s US businesses, its asset management arm PGIM, its Japan and emerging markets businesses, and its technology function for proofs of concept, pilots, and onboarding. Prudential chairman and CEO Charles Lowrey said that being led by an experienced venture capital executive while having access to Prudential’s resources is a clear competitive advantage for early-stage firms.⁠[5][5][5][5][4]

In 2023, Pismo, a next-generation banking and cards company backed by PruVen’s first fund, was acquired by Visa for $1 billion.⁠[2][6]

On June 29, 2023, PruVen Capital Partners Fund II, LP filed a Form D with the US Securities and Exchange Commission for a total offering amount of $375 million; its general partner is PruVen Capital Partners II GP, LLC, of which Ramneek Gupta is the manager, with an address in Palo Alto, California. By the time of an amendment filed in August 2024, the fund had sold $371 million in interests, with a date of first sale of July 7, 2023.⁠[7][7][7][7][7][8][8]

On September 3, 2024, PruVen announced the oversubscribed close of its second fund at $378.5 million, to invest in financial services and enterprise-focused startups. Unlike the first fund, whose only limited partner was Prudential, the second fund was led by Prudential and also backed by financial and insurance institutions such as TIAA, Lincoln Financial, Generali, Nippon Life, Mutual of Omaha, and Willis Towers Watson; Cooley advised on both funds. Gupta said at the time that the first fund had a distributed to paid-in capital (DPI) ratio of about 10%, and that it was too early to discuss its overall returns.⁠[9][9][2][9][2]

On September 18, 2026, Angle Health, a US health insurance technology company in which PruVen’s first fund invested at the seed stage, announced a $600 million equity financing at a $2.7 billion valuation, consisting of a $200 million Series C financing and a $400 million tender offer for existing shares. The round was led by Vitruvian PartnersVitruvian PartnersVitruvian Partners is an international private equity firm headquartered in London, United Kingdom. Founded in 2006, it focuses on growth buyouts and growth capital investments in “Dynamic Situations,” investing mainly in asset-light, high-growth middle-market companies, and between 2008 and 2024 it raised five funds in its Vitruvian Investment Partnership series.Open the full entry with participation from new investor Town Hall VenturesTown Hall VenturesTown Hall Ventures is a healthcare venture capital firm headquartered in New York, United States. It was founded in 2018 by Andy Slavitt, who led the US Centers for Medicare and Medicaid Services (CMS) during the Obama administration, and others, and it invests in healthcare technology and services companies that improve access to care in underserved communities.Open the full entry and existing investors Blumberg Capital, Portage VenturesPortage VenturesPortage Ventures (now branded as Portage) is a fintech investment firm headquartered in Toronto, Canada. Founded in 2016 as Portag3 Ventures, it is now the fintech investment platform within the alternative asset manager Sagard.Open the full entry, PruVen Capital, and Y Combinator, and was expected to close later that month.⁠[2][6][10][10][10][11]

As of October 2026, PruVen says its 10 limited partners are all global financial services and insurance institutions; it invests on a multi-stage basis, from seed to Series C and beyond, focusing on four major industries, namely financial services, insurance, real estate, and healthcare, and on the enterprise enabling technologies, functional solutions, and B2B SaaS that support them. PruVen works with its limited partners from the C-suite through procurement, technology, legal, and other functions to help portfolio companies win their first reference customer, sign flagship partners, and scale distribution.⁠[6][12][6][6][12][6]

PruVen’s portfolio includes Pismo, Bilt Rewards, Newfront, Contabilizei, Gradial, Pace, Onshore, Angle Health, and FirstConnect; PruVen has also invested in companies such as Avibra, DataRobot, and Unite Us. Besides founder and managing partner Ramneek Gupta, partner Travis Skelly was previously a director at Citi Ventures, where he led more than 15 investments.⁠[6][6][6][6][6][6][6][3][3][3]

PruVen Capital: Official website: https://www.pruvencap.com/ (opens in a new window).⁠[6]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Public profile: https://www.linkedin.com/company/70548819 (opens in a new window)⁠[6]