Blume Ventures closes Fund IV at $250 Mn

Early-stage venture capital firm Blume Ventures has announced the close of its Fund IV at over $250 million taking Assets under management (AUM) to over $600 million. 

The firm made the first close of its fourth fund at $105 million in November last year.

Blume’s Fund IV investors include 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 Fund IV will be managed by its over 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.

Some of the notable startups including Unacademy, Slice, Spinny, dunzo, Classplus, Servify, Lambdatest, Koo, Locus, HealthifyMe, smallcase, Euler, Jai Kisan, and Pixxel, among others are backed by Blume.

In the past few weeks, several VCs have launched India-focused funds targeting startups across segments. The list includes Kae Capital, Transition VC, Indian Angel Network, Yatra Angel Network, Chiratae Ventures, and others.

In the past couple of months, around a dozen venture capital and debt firms have announced their new fund. The list counts Chiratae Ventures, Fundamentum, Stride Ventures, Merak Ventures, Cactus Ventures, Elev8 Venture Partners, StartupXseed, Blacksoil, Kettleborough VC, Fireside, Avatar Ventures, Alteria Capital, and IAN.