Blume Ventures Announces Initial Close of Fund V at USD 175 Mn Fund V continues the firm's focus on supporting early-stage Indian startups across technology-led sectors such as health tech, consumer products, fintech, and deep tech.

By Entrepreneur Staff

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Karthik Reddy, Co-founder & Partner at Blume Ventures

Blume Ventures has announced the initial close of its latest flagship investment fund, Fund V, at USD 175 million.

The firm expects to reach its final close between USD 250 million and USD 275 million by early 2026.

The firm said that the new fund has attracted commitments from both existing backers and a fresh group of institutional investors, multilateral organizations, corporates, and family offices.

This development follows the closing of Blume's previous Fund IV, which raised over USD 250 million in December 2022.

Fund V continues the firm's focus on supporting early-stage Indian startups across technology-led sectors such as health tech, consumer products, fintech, and deep tech. It claims to have already begun deploying capital into ventures including Mave Health, Confido, Lucira, Ozi, PowerUp Money, and iDO.

The firm reported a rise in exit activity in 2025, generating meaningful returns for its Limited Partners from early fund vintages. Blume expects to surpass an aggregate Distributions to Paid-In (DPI) capital of USD 80 million this year. DPI serves as a key measure of the total cash returned to investors relative to the capital invested.

Blume's portfolio companies are also progressing toward public listings, with insurance platform Turtlemint filing its draft prospectus with regulators.

The firm remains focused on investing in seed and pre-Series A stages, backing technology-driven ventures targeting both domestic and global markets.

Currently managing over USD 800 million in assets across five core funds, Blume's portfolio features startups such as Battery Smart, Cashify, Classplus, Pixxel, Purplle, Servify, Slice, Spinny, and Ultrahuman.

The firm joins other Indian venture capital players, including Accel, Speciale Invest, and IndiaQuotient, that have raised new funds this year.

Blume aims to deepen its engagement with early-stage founders and expand its support programs for growing portfolio companies.
Entrepreneur Staff

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