LP profile

Prim

Corporate · Founded 2013 · San Francisco, United States

#34 LP Ranking #3 of 2,577 corporate and insurance LPs

Prim was an on-demand laundry service platform that operated in San Francisco, United States. Launched in July 2013 by Yin Yin Wu and Xuwen Cao, the startup was part of the Y Combinator accelerator program.

Website ↗X / Twitter ↗

103 VC firms backed

$116B AUM

~$3.5B Allocated to VC (est. 3%)

01 · Background

Who Prim is.

Historical Background: The Pension Reserves Investment Management (PRIM) Board was established in 1983 by Massachusetts legislation to oversee the Pension Reserves Investment Trust (PRIT) Fund. The primary goal of its establishment was to accumulate assets through investments and other revenues to help reduce the state's unfunded pension liabilities.
Source of Capital: PRIM manages the pension funds for public employees in Massachusetts. Its capital is sourced from the retirement funds of Massachusetts state employees, teachers, and Boston teachers, along with other local retirement systems that choose to invest with PRIM.
Allocation Strategy: The firm invests across a diversified range of asset classes, including public markets, private equity, and credit. PRIM's investment approach capitalizes on economies of scale to manage costs and diversify its portfolio broadly. As of early 2024, the fund's assets reached $104.2 billion, and it has recently made significant allocations of over $2 billion to credit managers.

Sources

02 · Other LPs

Other LPs.

Other corporate and insurance LPs in the Power Law LP ranking, closest to Prim by combined power-law score — North America first, then the nearest worldwide.

🇺🇸

Metropolitan Life Insurance Company

LP rank #23 · United States

$591B AUM 47 VC funds backed

🇺🇸

Brighthouse Financial

LP rank #32 · United States

$235B AUM 56 VC funds backed

🇬🇧

Invesco

LP rank #85 · United Kingdom

$1.8T AUM 64 VC funds backed