Get All Access for $5/mo

Blume Ventures Closes Its Fourth Fund At Over $250 Million Investing in 30 to 35 companies across different technology verticals, Blume will discover and nurture another generation of industry-defining companies built in this cycle

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Blume Ventures, a homegrown venture fund has announced the close of its Fund IV at over $250 million bringing the firm's AUM to over $600 million. Blume focuses on early-stage, innovative technology-led startups and backs entrepreneurs either building to solve large impactful Indian problems or taking the best of Indian innovation to global markets. The diverse mandate extends from edtech, fintech, health, commerce and consumer internet in the former to robotics and AI to SaaS and enterprise software in the latter category.

"It has been satisfying to see the brand scale and be able to raise a fund size that is finally commensurate to its needs and more so when there is an overall gloom around fundraising and liquidity globally. The fund size, diversity of LPs and oversubscription is a testament to the coming of age of Blume, the institution. We will continue to work and evolve with our portfolio's needs and build large companies that India will be proud of," said Ashish Fafadia, one of Blume's partners

Blume's Fund IV investors include some of India's finest family offices, global family offices, sovereign wealth funds (India and overseas), and emerging market Fund of Funds. The oversubscription on the $200 million target and the support from both existing and new investors is a testament to the track record that continues to grow stronger. Blume Fund IV will be managed by its more than 15 member investment team led by Sajith Pai, Arpit Agarwal, Ashish Fafadia, Sanjay Nath and Karthik Reddy. Investing in 30 to 35 companies across different technology verticals, Blume will discover and nurture another generation of industry-defining companies built in this cycle, claimed by the company in a statement.

"We are grateful to our anchor supporters and new believers who have emphatically backed Blume IV. Whether building domestically or for global markets, the best founders and LPs would like to work with a Fund that can be considered world-class, which has spurred us to keep institutionalizing and bolstering our platform, team and capabilities. We're excited for Blume to become the preferred seed partner of choice for both categories," said Sanjay Nath.

Launched as a 'Superangel' fund in 2011 by Karthik Reddy and Sanjay Nath, Blume raised $20 million in Fund I and invested in over 60 startups, pioneering the idea of home-grown micro VCs, with domestic investor participation playing an important role in each of its funds, as per the statement.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Side Hustle

The Side Hustle She Started in a High School Locker Room Hit Multimillion-Dollar Revenue — and Taylor Swift Is a Fan: 'Invest in Yourself'

Elena Bonvicini, now 25, was inspired to start her side hustle during a 2016 visit to her grandparents in Wisconsin.

News and Trends

The Role of Digital Payment Infrastructures in MSME Growth

Around 80 per cent of MSMEs reported positive impacts from adopting digital technology, with Aadhaar banking and UPI being the most utilized services at the last mile.

Growing a Business

3 Overlooked, Everyday Solutions That Actually Drive Long-Term Success

Success in business often comes from mastering the mundane, daily processes. Discover how "boring magic" — the unglamorous but essential elements — can drive long-term growth and stability for startups.

Thought Leaders

Why AI is Your New Best Friend... and Worst Enemy in the Battle Against Phishing Scams

As AI supercharges phishing tactics, businesses must upgrade defenses beyond spotting bad grammar or sloppy emails.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.