Blume Ventures hits first close of $175m fund
- ByStartupStory | October 29, 2025
Early-stage venture capital firm Blume Ventures has announced the first close of its fifth flagship investment vehicle, Fund V, at $175 million. The Bengaluru-based VC firm aims to raise a total corpus of $250–275 million by early 2026.
A Milestone in Blume’s 15-Year Journey
Coinciding with Blume Ventures’ 15th anniversary, Fund V continues the firm’s proven strategy of backing early-stage Indian and cross-border startups led by visionary founders. Since inception in 2010, Blume has invested in and supported some of India’s most successful startups, including Unacademy, Purplle, Pixxel, Battery Smart, and Spinny.
Expanding Across Multiple Sectors
Blume Ventures has already begun deploying capital from Fund V, making early investments in startups across healthtech (Mave Health, Confido), consumer brands (Lucira, Ozi), fintech (PowerUp Money), and deep tech (iDO). This diversified sector approach aligns with the firm’s thesis of backing disruptive technology-led businesses with scalable models.
Growing Assets Under Management and Exit Momentum
Blume Ventures currently manages assets worth over $800 million across its five core funds and related vehicles. The firm reports a pivotal 2025 marked by substantial exit activity and distributions to limited partners, with anticipated aggregate returns exceeding $80 million across all funds this year.
Its IPO pipeline is also gaining traction, highlighted by startups like Turtlemint, which recently filed its Draft Red Herring Prospectus (DRHP) with market regulators.
Vision for the Future
With Fund V nearing final close, Blume continues to focus on seed and pre-Series A investments in technology-driven startups focused on Indian markets and global expansion. The firm’s broad presence in major innovation hubs, including Bengaluru, Mumbai, Delhi, GIFT City, and San Francisco, positions it well to identify and nurture the next generation of tech leaders.
Blume’s leadership emphasizes fostering founder-first support models and scaling enterprise innovation, financial inclusion, space tech, and consumer engagement technologies.
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