Blume Ventures’ $250 million early-stage venture Fund IV full closure has been announced . The fund has a $200 million corpus and has received a $50 million oversubscription. The company backs transformational companies, and their revolutionary founders early, and remain lifelong partners.
Blume Ventures, which was established in 2010 by Karthik Reddy and Sanjay Nath, makes investments in startups that operate in a variety of industries, including edtech, fintech, health, business, consumer internet, AI, SaaS, and enterprise software. It asserts that its AUM exceeds $600 million.
Founder of Blume Ventures in his tweet wrote : Founders and their unreasonable ambition is why Blume exists; to support these ambitions & their lasting impact. Today, Indian founders see bigger dreams, set lofty goals. We are delighted to announce our $250+ mill fund, backing them, their ability to solve large problems.
“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, partner at Blume Ventures.
Blume Ventures portfolio includes Grey Orange, Carbon Clean, Slice, Turtlemint, smallcase, Exotel, Lambdatest, Unacademy, Classplus, Purplle, Dunzo, Healthifyme, BeatO, Tricog, Euler, Yulu and BatterySmart, among others.
“Thanks to an increasing reality of IPO and M&A exits, there is a resurgence of 2x founders and operators, as well as higher quality first-time founders. We’re excited for Blume to become the preferred seed partner of choice for both categories,” said Sanjay Nath, partner at Blume Ventures.
Blume Ventures boasts three interesting funds in its offerings
The VC currently has a team of 35 professionals. So far, it has launched three funds – $20 Mn Fund I, $60 Mn Fund II and $102 Fund III. These funds infused money in various startups– Zopper, Webengage, IDfy, Slice, Spinny, Pixxel, Servify, Lambdatest and Koo, to name a few.
Besides the above-cited funds, it also manages continuity funds, secondary funds (Fund I winners), opportunity funds (Fund I and II winners) and SPVs.
The fund was introduced at a time when the startup ecosystem was slowing down. The development of growth-stage and late-stage businesses is being hampered by a number of problems, including a funding crisis, sour market sentiment, global disruption, and market inflation.
In addition, investors are closely examining their portfolio firms and expressing less confidence in continuing to support entrepreneurs. On the other hand, venture capital companies are taking advantage of the current situation and either opening or closing their VC funds.
The fund IV has been financed by sovereign wealth funds, international and Indian family offices, and the Fund of Funds. It will be managed by a team of about 15 people and has supported roughly 35 companies working in a range of tech-enabled industries.