Homegrown VC firm Blume Ventures closes Fund IV at $250M

Mumbai-based early-stage venture fund Blume Ventures has announced the close of its Fund IV at over $250 million, bringing the firm's assets under management (AUM) to over $600 million. 

The 12-year-old firm, which backs early-stage and technology-led startups, said its 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.

According to the firm, 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 said that Fund IV will be managed by its 15+ member investment team led by Sajith Pai, Arpit Agarwal, Ashish Fafadia, Sanjay Nath and Karthik Reddy. It will invest in 30-35 companies across different technology verticals and discover and nurture another generation of industry-defining companies built in this cycle. 

"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," said Sanjay Nath.

Blume was established in 2010 by Karthik Reddy and Sanjay Nath. The firm has funded several big names in the startup ecosystem, including ElectricPe, Yulu, Cashify, Dunzo, Unacademy, Instamojo, Slice, smallcase, HealthifyMe, and Koo, among others.

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