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

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By Teena Jose

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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.

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