Blume Ventures closes $250 mn fund for tech startups

Blume Ventures, which focuses on early-stage technology-led startups, has closed its Fund IV at over $250 million, bringing the firms asset under management (AUM) to over $600 million.
VC funding for techEstablished in 2010 by Karthik Reddy and Sanjay Nath, Blume backs entrepreneurs either building to solve large impactful Indian problems or taking the best of Indian innovation to global markets.

Blume Fund IV will be managed by its more than 15 member investment team led by Sajith Pai, Arpit Agarwal, Ashish Fafadia, Sanjay Nath and Karthik Reddy.

Blume Ventures raised $20 million in Fund I and invested in over 60 startups, including Purplle, Grey Orange, Turtlemint, Carbon Clean, Exotel, Cashify, Zopper, Webengage, and IDfy.

Blume Venture raised successor Funds in 2015-16 and 2018-19, growing to a $60 million Fund II and a $102 million Fund III.

The Blume stars born from the 2015 to 2020 era are Unacademy, Slice, Spinny, dunzo, Classplus, Servify, Lambdatest, Koo, Locus, Healthifyme, smallcase, Euler, Jai Kisan and Pixxel, among others.