How many investments has Primary made?

Primary has 20 tracked investments, including 5 dated in the last 24 months.

Where is Primary located?

Primary is headquartered in New South Wales, US.

Primary

Venture capital

New South Wales · 12 people tracked

Also known as PRIMARY OPERATIONS INC

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Fund manager profile

Primary is a venture fund manager based in New South Wales. SEC filings show 4 venture funds on record, most recently Primary Select Fund IV, L.P. ($200M offering) filed April 2025.

Source: SEC EDGAR Form D filings. Firm website data not yet available.

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New South Wales, US

Founded

2019

Last 12 months

3 investments

Tracked investments

Team · 12 people

from public directories

Ben Sun· General Partner

Bradley C. Svrluga· General Partner

Cassie Young· General Partner· New Yorkin 𝕏

Cassie Young, a 15-year go-to-market operator, evaluates founders pragmatically, warns of a gross retention apocalypse in growth-focused AI SaaS, leads a 30-person Impact GTM team, and uses a five-ability framework.

cassie@primary.vc

Jason Schuman· General Partner

Michal Witkowski· General Partner

Anne Lysak· Promoter

Charles Gonszor· Executive Officer· Greater London, England, United Kingdomin

Christopher J. Moshy· Executive Officer

Jason Shuman· Promoter· New York City Metropolitan Areain 𝕏

Jason Shuman is a Partner at the seed fund Primary, where he sources and leads new investments across consumer healthcare, fintech, proptech and marketplaces. Originally from Boston and a graduate of the University of Miami, he began his career founding a direct-to-consumer footwear company before spending roughly eight years moving between operating and investing roles. He has been named to Forbes' 30 Under 30 list for venture capital and included among Venture Capital Journal's 40 rising stars in the industry.

jason@primary.vc

Neil Wallace· Executive Officer

Robert Peruzzi· Promoter

Simon Lloyd· Executive Officer· Greater London, England, United Kingdomin

What they invest in

from 17 of 20 portfolio companies

AI & Machine Learning ×10SaaS ×8Enterprise Software ×7Developer Tools ×3Fintech ×3Gaming ×2Healthtech ×2Logistics & Supply Chain ×2

HQs:United States×14

Investments · 20 tracked

founders shown can be your intro path

By year:2026 · 1 2025 · 4 2023 · 1 2022 · 2 2021 · 3 2017 · 1 2015 · 113 dated

Haiquhaiqu.ai inJan 2023✓ verified

Develops software solutions that enhance quantum processor performance to extract value from current quantum hardware.

AI & Machine LearningDeep TechDeveloper ToolsQuantum ComputingSan Francisco, US

Mykola Maksymenko(Executive Officer, Director)inRichard Givhan(Executive Officer, Director)in

Co-investorsAlumni Ventures Angel One Collaborative Fund MaC Venture Capital Primary Venture Partners Roosh Ventures +4 more

Primaryprimary.vc✓ verified

Etched designs and manufactures frontier inference clusters, including custom chips, racks, and software, to deliver high-performance and cost-efficient AI inference systems for hyperscalers and AI labs.

AI & Machine LearningEnterprise SoftwareFintechHardwareSemiconductorsNew York City, US

Ali Hussain(CEO and Co-Founder)inDeepak Bapat(Co-Founder)Rebecca Schwartz(Co-Founder)Gavin Uberti(Co-founder)Rob Wachen(Co-founder and President)

Co-investorsLightspeed Venture Partners Vintage Investment Partners 8VC Alumni Ventures K2 HealthVentures Town Hall Ventures

Black Crow Aiblackcrow.ai inApr 2022SEC filingmedium confidence

Black Crow provides AI-powered analytics and personalization software for e-commerce brands to understand customer behavior and deliver tailored shopping experiences.

AdTechAI & Machine LearningE-commerceMarketing TechNew York, US

Richard Harris(Executive Officer, Director)inJoel Goldman(Founder)inDamon Tassone(Executive Officer, Director)

BoardShehzad Khan(Director)in

Board seatBradley Svrluga· per SEC Form D · $25.4M raise · filed Apr 2022

Co-investorsBloomberg Beta Good Friends Habitat Partners Imaginary Venture Capital Interlock Partners Left Lane Capital +4 more

Electric Aielectric.ai in 𝕏Oct 2021SEC filingmedium confidence

Electric provides IT management and security software designed for small and medium-sized businesses to manage their IT environments in-house.

CybersecurityEnterprise SoftwareSaaSNew York, US

Ryan Denehy(CEO)inYotam

Board seatBradley Svrluga· per SEC Form D · $90M raise · filed Oct 2021

Co-investorsBessemer Venture Partners Charge VC Everywhere Ventures Four Acres Capital Harmonic Growth Partners Nat Turner +7 more

Flock Homesflockhomes.com inMar 2025SEC filingmedium confidence

Flock Homes is a real estate investment platform that provides individual investors access to professionally managed residential rental properties across multiple U.S. markets.

FintechPropTechDenver, US

Ariel Rubin(Executive Officer, Director)Ari Rubin(Founder & CEO)in

Board Alex Rampell(Director)inRenata Quintini(Director)

Board seatBradley Svrluga· per SEC Form D · $22.9M raise · filed Mar 2025

Co-investors1Sharpe Ventures Andreessen Horowitz BoxGroup FJ Labs Human Capital MVP Ventures +7 more

Routehappyroutehappy.comAug 2015SEC filingmedium confidence

Acquired by Airline Tariff Publishing Company (ATPCO)

New York, US

Robert C. Albert(Executive Officer, Director)

Board Matt Gorin(Director)inEllen Keszler(Director)

Board seatBradley Svrluga· per SEC Form D · $3M raise · filed Sep 2015

Co-investorsContour Venture Partners New Ground Ventures Vocap Partners Inovia Capital

Spark Healthmysparkhealth.comSep 2021SEC filingmedium confidence

Spark Health is a healthcare practice offering personalized primary care that combines conventional and natural medicine.

Digital HealthHealthtechLongevityWellness & FitnessNew York, US

James Jiang(Executive Officer, Director, Promoter)inDr. Shacy RiveraDr. Jennifer ZeglenByron Edwards(Executive Officer, Director)Andrew Aldrich(Director)Alex Zhang(Executive Officer)

Board seatBradley Svrluga· per SEC Form D · $10M raise · filed Sep 2021

Co-investorsTorch Capital

Cakejoincake.com 𝕏

Cake operates a nationwide network of locally run funeral homes, cremation providers, and cemeteries, working with more than 1,700 professionals to support families through end-of-life arrangements.

Consumer

Co-investorsBantam Group InHealth Ventures LaunchCapital TBD Angels Two Lanterns Venture Partners GoAhead Ventures +1 more

Cakecakeequity.com in 𝕏

Cake Equity offers a platform for investors to manage their portfolios, combining investment tracking, contract and document management, and stakeholder communications.

Enterprise SoftwareFintechSaaSVenice, US

Kim Hansen(Co-founder & CEO)inJason Atkins(Co-founder & President)in

Co-investorsAfterWork Ventures Pipeline Capital QIC Ventures Scale Investors TORUS Gradient Ventures +3 more

Cakecake.app 𝕏

The page presents JURAGAN69, a platform offering free demo slot games and online games from various providers accessible via desktop and mobile browsers.

Gaming

Co-investorsSeeder Fund Gradient Ventures Lerer Hippeau Primary Venture Partners Silas Capital Partners

Cake Aicake.ai in 𝕏

Cake is a fully managed, modular AI infrastructure platform that helps teams build and deploy AI-powered applications using open source tools with built-in security and compliance.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSNew York City, US

Misha Herscu(Founder)in Skyler Thomas(Founder)in

Co-investorsGradient Ventures Primary Venture Partners

Contractscontracts.aiAug 2026 · $700M

ContractsAI structures and activates contract data beyond static storage in contract lifecycle management systems, making terms accessible for operational use across enterprise systems.

AI & Machine LearningEnterprise SoftwareLegalTechSaaS

Jenn McCarron(Co-founder & CEO)inPhani Gunturu(Co-founder & CTO)in

Co-investorsOperator Collective Altimeter Capital Andreessen Horowitz Bain Capital Ventures Blackstone General Catalyst +9 more

Lunchboxlunchboxentertainment.com 𝕏Feb 2022 · $50M

Lunchbox Entertainment develops competitive gaming experiences.

Gaming

Arik Torkelson(Founder / Chief Game Officer)inJack Wink(Founder / Co-CEO)Max Wink(Founder / Co-CEO)in

Co-investorsRyze Labs 645 Ventures Coatue Management Primary Ventures

Lyriclyric.tech inSep 2025

Lyric builds a supply chain decision platform with composable, ready-to-use apps, native data integrations, and configurable workflows powered by supply chain algorithms and science.

AI & Machine LearningEnterprise SoftwareLogistics & Supply Chain

Ganesh Ramakrishna(Founder & CEO)in

Co-investorsFoster Ventures NewBuild.VC Permanent Capital Ventures Primary Venture Partners Insight Partners VMG Partners

Marker Learningmarkerlearning.com in

Marker Learning provides software tools to special education departments for conducting student evaluations more efficiently and accessibly.

AI & Machine LearningEdTechHealthtechSaaS

Emily(Co-founder)Stefan Bauer(Co-Founder and CEO)inDr. Samuel O. Ortiz(Chief Clinical Officer)

Co-investorsAndreessen Horowitz Edovate Capital Primary Venture Partners Bond Capital Management Cherry Ventures Divergent Investments +9 more

Orumorumhq.com in 𝕏

Orum offers an AI-powered dialing and coaching platform that helps sales development teams run cold calling as a system, maximizing live conversations by detecting who answered first, optimizing connect rates, and providing coaching insights.

AI & Machine LearningSaaSSales TechSan Francisco, US

Karthik Viswanathan(Executive Officer, Director)inJason Dorfman(Executive Officer, Director)in

BoardAyush Sood(Director)

Co-investorsCanapi Ventures Craft Ventures Homebrew Inspired Capital Unusual Ventures Abstract Ventures +20 more

Plyply.ioDec 2025 · $8.5M

Ply is a platform for building custom features triggered on demand via serverless engines, where customer data is passed through feature runs and task logs rather than stored.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareFuture of WorkSaaS

Darion Miller(Founder)inDave Wigder(Founder)in

Co-investorsAleph Ferguson Ventures SignalFire

Plygetply.com inDec 2025 · $8.5M

Ply provides AI-driven purchasing software for trades businesses, handling RFQs to multiple suppliers, automated purchase orders, and three-way invoice matching to reduce material costs.

AI & Machine LearningConstruction TechLogistics & Supply ChainSaaSNew York City, US

Dave Wigder(Founder)inDarion Miller(Founder)in

Co-investorsPrimary Venture Partners Cleo Capital Ferguson Ventures SignalFire

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Evergreen Jobs SelfMadeMe

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Portfolio news

latest coverage across their companies

E3 Electric.Ai Raises ₹100 Crore Through Equity and Debt Funding • EVreporter

Electric Ai · evreporter.com · Jul 15, 2026

Ply Raises $8.5M in Funding

Ply · finsmes.com · Dec 4, 2025

Lyric Raises $43.5M in Series B Funding

Lyric · finsmes.com · Aug 5, 2025

Fund performance · per public LP disclosures · 2

as of Mar 2025

Fund	Vintage	Committed	Net IRR	TVPI	DPI
Primary Select Fund II, LPLPs: Empire State Development – New York Ventures	2021	—	—	1.13x	0.00x
Primary Select Fund I, LPLPs: Empire State Development – New York Ventures	2019	—	—	1.46x	0.15x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Primary made?: Primary has 20 tracked investments, including 5 dated in the last 24 months.
Where is Primary located?: Primary is headquartered in New South Wales, US.