Blume Ventures makes first close of Fund V at $175-M

Blume Ventures has made the first close of its fifth fund at USD 175 million. It expects to make a final close with a corpus of USD 275 million by early 2026. The share of India-based limited partners (LPs) in Fund V is expected to decrease to approximately 20-25% from about 40% in Fund IV.The firm's primary assets under management across its four core funds are around USD 650 million, rising to nearly USD 825 million when including its opportunity and continuity vehicles.The firm intends to continue backing themes in India’s consumer internet, fintech, and Software-as-a-Service (SaaS) sectors, while intensifying its focus on artificial intelligence (AI) across its portfolio. Blume Ventures has logged over 20 exits to date and has backed companies such as Battery Smart, Cashify, Classplus, Pixxel, Purplle, Servify, slice, Spinny, Turtlemint, and Ultrahuman.