Blume Ventures announces initial close of Fund V at $175 Mn

Blume Ventures has announced the initial close of its new flagship investment vehicle, Fund V, at $175 million. The firm expects a final close of $250–275 million by early 2026.

According to the fund, it has secured commitments from existing investors and added new institutional investors, multilateral institutions, corporates, and family offices. 

Blume closed its Fund IV at over $250 million in December 2022. 

Fund V aligns with the firm’s existing strategy of investing in early-stage Indian startups and has already deployed capital across health-tech, consumer, fintech, and deeptech sectors, including companies such as Mave Health, Confido, Lucira, Ozi, PowerUp Money, and iDO.

The firm reports increased exit activity in 2025, with distributions to Limited Partners from early fund vintages. Blume expects to surpass an aggregate DPI of $80 million across its funds during the year. The firm’s IPO pipeline has started moving forward, beginning with Turtlemint, which has filed its draft prospectus with regulators.

Blume invests primarily in seed and pre-Series A rounds, supporting technology-led companies focused on Indian markets and global expansion. The firm backs founders building products in categories such as mobility, consumer tech, space, and financial services.

Blume Ventures currently manages more than $800 million in assets across five core funds and related investment vehicles. The firm’s portfolio includes startups such as Battery Smart, Cashify, Classplus, Pixxel, Purplle, Servify, Slice, Spinny, Turtlemint, and Ultrahuman. 

Blume plans to continue investing in early-stage founders and expanding its support programs for portfolio companies.