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Blume Ventures makes first close of Fund IV at $105 Mn

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Blume Ventures, an early stage venture capital fund, has raised $105 million to reach the target corpus of $200 million for its fourth India focused fund.

Blume aims to close the fourth fund by March-April next year.

According to the firm, the capital will be used to stay longer in the journey of their portfolio companies and back the companies at deeper levels.

Founded in 2011 by Karthik Reddy, Ashish Fafadia and Sanjay Nath, Blume invests in tech-based pre-seed to pre-Series A stage startups. The Mumbai-based VC firm has backed over 150 companies including Unacademy, Spinny, Purpell, Cashify, Turtlemint and Grey Orange.

To recall,  Blume had announced the final close of Blume Ventures Fund III at $102 million in February last year.

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