Blume Ventures promotes two senior execs to investment partners

• ByStartupStory     |    March 20, 2023

Blume Ventures, an early-stage venture capital firm, announced on Monday that it has promoted Arpit Agarwal and Sajith Pai, both senior members, to investment partners. The firm has invested in over 150 startups, including Spinny, Slice, Grey Orange, Turtlemint, Carbon Clean, and Servify, among others.

Blume marked the final close of its Fund IV in December last year.

The VC firm which is headquartered in Mumbai has raised $290 million from institutional investors which is it’s largest fund till date.

VC firm said in a statement, that upgradation of Arpit and Sajith’s to investment partners is acknowledgement for their valuable contribution to Blume’s robust portfolio performance.

Agarwal who joined Blume in 2014 and got his first investment for the VC firm in 2015 from Cashify. Agarwal holds expertise in deeptech, healthtech and cleantech/EVs. He was the founding member of the Headstart Network and the TLabs teams, the Times Internet startup accelerator program before joining Blume.

 

According to Blume, Agarwal played a key role in fostering successful B2B/ enterprise practice.

Pai joined Blume in 2018, with having almost 20 years of experience at The Times Group, where his work involved strategy and corporate development. 

At Blume, he has invested in companies across edtech, HRtech, B2B marketplaces, workforce enablement, and other consumer internet business models, said the VC firm.

Blume Ventures‘ investment team comprises Sanjay Nath, Ashish Fafadia, and Karthik Reddy, among others. Nath specialises in cross-border SaaS investments, while Fafadia and Reddy head the firm’s fintech and consumer/B2B internet portfolios, respectively.

Blume Ventures, founded by Reddy and Nath in 2010, raised its first fund in 2011, collecting Rs 100 crore. Over time, the company increased its fund sizes and presently manages more than $250 million. It is currently investing from its fourth fund and intends to support 30-35 startups in total, with a dozen investments already made from Fund IV.

Follow Startup Story