Blume Ventures Plans Fourth Fund Of $150 Million

The company has backed unicorns like Unacademy, Purplle, Dunzo, and Healthfyme. Abu Dhabi investment authority will be one of the Limited Partners(LP) who will invest in the VC fund returning to this fund.

Blume Ventures, an early-stage investor, has declared its fourth-largest fund which will stand at $120-150 million, joining India-focused large corpus funding. The company has backed unicorns like Unacademy, Purplle, Dunzo, and Healthfyme. Abu Dhabi investment authority will be one of the Limited Partners(LP) who will invest in the VC fund returning to this fund.

Blume Ventures was started in 2011, by Sanjay Nath, Ashish Fafadia, and Karthik Reddy with funding amounting to Rs. 100 Crore from High Net Worth Individuals. Subsequently, it raised 400 crores in 2016 and Rs 715 Crore in 2019. From its third fund, Blume is speculated to invest in 25 to 30 companies, with an opening amount of $500K and $1.25 Million. 

A large number of VC companies are investing in India’s flourishing start-up ecosystem. These include Alteria Capital, Tata Capital, Edelweiss Advisor, Iron Pillar, Coatue Management, to name a few. A report by Bain & Co in a recent report reveals $6 Billion is speculated to be invested in the Indian startup ecosystem, given that a lot of investors are gravitating to high equity deals. 

Source: Business World