Private Equity

Fund News

Blume Ventures closes 4th fund at over $250-M

Press Release  

Blume Ventures has closed its Fund IV at over USD 250 million bringing the firm's AUM to over USD 600 million. Investors in Fund IV include Indian family offices, global family offices, sovereign wealth funds, and emerging market funds of funds. Blume, which was established in 2010 by Karthik Reddy and Sanjay Nath, now has over 35 professionals. 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. In 2011, Blume raised $20 million in Fund I and invested in over 60 startups including Purplle, Grey Orange, Turtlemint, Carbon Clean, Exotel, Cashify, Zopper, Webengage, and IDfy. Blume raised successor Funds in 2015-16 and 2018-19, growing to a $60 million Fund II and a $102 million Fund III. These funds invested in companies like Unacademy, Slice, Spinny, dunzo, Classplus, Servify, Lambdatest, Koo, Locus, Healthifyme, smallcase, Euler, Jai Kisan and Pixxel, amongst others. Blume manages Continuity funds in addition to the above funds. These include secondary funds (Fund I winners), opportunity funds (Fund I and II winners) and SPVs.