In an era where cookie-cutter capital raising dominates proceedings, Akshay Gupta, Director of Prime Securities, believes in steering a different course, one following bespoke financial advisory and deep client agreement.
“We’re not the guys you come to and say, ‘raise my Series B’ and walk away,” says Gupta. “We tailor-make solutions based on the client’s need, and we hold hands with the client in a way that the investors, who we are getting in, which are typically family offices or institutions, have full transparency into the operations of the company even after the funding stage.”
Prime Securities, a name often associated with legacy capital markets, has also been actively funding startups. The method breaks the mold of traditional investment banking by not just helping raise equity or facilitate M&A deals, and does what Gupta describes as “solution-based advisory.”
The hand-holding approach, Gupta believes, is their key differentiator. “Investors, especially family offices, trust us because we don’t just place capital. We ensure it’s put to work responsibly.”
So far, Prime Securities has raised over INR 1000 crores for more than 30 startups, staying sector-agnostic and stage-agnostic in its approach. “We don’t ask investors which sector they prefer. We do the due diligence, ensure the business model is solid, and then take it forward,” Gupta notes.
This thorough vetting process stems from experience. “Between my partner and me, we have over 70 years of experience. Due diligence for us is second nature, we know which five people to call to validate a founder or a business.”
The diligence has paid off: 28 of the 30 startups Prime has supported are said to be thriving, and the remaining two are “doing all right,” according to Gupta. “We don’t have any blow-ups on our sheet. That’s saying something in today’s startup environment.”
Prime Securities helps companies scale for capital and IPO readiness as well. SISCOL, a company that deals in infrastructure development, has filed papers with the market regulator Securities and Exchange Board of India for its maiden IPO in the future, according to Gupta.
Prime’s investor base consists primarily of Indian family offices and institutional investors, steering clear of the complexities tied to overseas inflows. “We’ve seen a dip in overall private market enthusiasm compared to the 2021-22 boom,” Gupta admits. “Exits are harder to come by now, and investors want to see money returned, not just paper valuations.”
Despite that, Gupta sees an opportunity. “This asset class still offers higher returns than public equity, just with lower liquidity. Our job is to manage that risk intelligently.”
Gupta also emphasized the need for startups to think beyond collecting capital. “Today’s market needs founders to plan for exits, not just raise the next round. The IPO and pre-IPO route has slowed since early 2024, and funds are starting to get anxious.”
“Don’t drive using the rear-view mirror,” Gupta says. “Yes, your friend may have doubled his valuation every year from 2020 to 2023. That doesn’t mean the market will let you do the same in 2025.”
According to Gupta, founders should align valuation expectations with real business growth and embrace governance, transparency, and scale-up discipline. “Rear-view mirror driving is bad for business. You’ve got to look ahead, understand the macroeconomic signals, and tone down unrealistic expectations.”