Fund News
Blume raises Rs.200-Cr in first close of new Opportunity Fund
Blume Ventures has announced the first close of its new opportunity fund, Fund 1Y. This is Blume's third growth fund, and it has already raised INR 200 crore of the INR 400 crore target with visibility for the remaining corpus. Blume Ventures will invest part of the capital from this new Fund 1Y to buy out winning portfolio companies - including Intrcity, Cashify, Carbon Clean, and Zopper - from its Fund I and allied investment vehicles and use the remaining to invest in winning companies from its other funds. Blume Ventures had raised a similar-sized Opportunity Fund in 2021, which brought out strong performers from Fund 1, and a majority of the portfolio's underlying metrics have grown at 35%+ CAGR, resulting in good follow-on rounds. Blume Ventures also raised Opportunity Funds in 2018 and 2022 solely for doubling down on their investments in category leaders such as Exotel, Grey Orange Robotics, Smallcase, Slice, Unacademy, and WebEngage.
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