Blume Ventures closes its Fund at upwards of $250 million to back visionary tech founders
- ByStartupStory | December 7, 2022
Blume Ventures, India’s leading homegrown venture fund has announced the close of its Fund IV at over $250million bringing the firm’s AUM to over $600 million. Blume focuses on early-stage, innovative technology-led startups. Blume 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. These themes have been consistent through Blume’s 12 years of existence.
Blume has received emphatic support from all its previous supporters. 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 15+ member investment team led by Sajith Pai, Arpit Agarwal, Ashish Fafadia, Sanjay Nath and Karthik Reddy. Investing in 30-35 companies across different technology verticals, Blume will discover and nurture another generation of industry-defining companies built in this cycle. Blume was established in 2010 by Karthik Reddy and Sanjay Blume is now over 35 professionals strong (outside of Constellation Blu and Metamorph, our two sister concerns), the leadership team has grown to 10, and they collectively grow and mentor a roster of young emerging stars on the team.
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