Blume Ventures plans $150 million fourth fund this year
Illustration: Rahul Awasthi
Synopsis
The fund manager will see some of its limited partners (LP) who invest in VC funds returning in the new fund
Early-stage venture capital firm Blume Ventures is planning to launch its fourth and largest yet fund of $120-150 million, a year and half after it raised its third fund in 2019, joining an increasing number of India-focused funds raising larger corpus.
The fund manager, which has backed startups such as Unacademy, Dunzo, Purplle and Healthifyme, will see some of its limited partners (LP) who invest in VC funds returning in the new fund, people
Synopsis
This vehicle will invest in the fund’s winner portfolio companies and continue to support them for a longer period, the investment firm said.
ETtech
Illustration: Rahul Awasthi
Venture capital fund Blume Ventures has raised Rs 350 crore for a new secondary fund which it has launched with Avendus Capital. This vehicle will invest in the fund’s large portfolio companies and continue to support them for a longer period, the venture firm said.
Blume Ventures Fund 1X, “will allow interested new investors, existing Blume Fund 1 and allied entities’ backers to hold the top performers in Fund 1 for an additional period of four to five years,” Blume said in a release.