Bengaluru: VC fund Blume Ventures, whose investment portfolio includes Unacademy, Dunzo and Koo, has raised over $250 million for its fourth and largest fund so far. The fund is backed by some of India’s family offices, global family offices, sovereign wealth funds (India and overseas), and emerging market fund of funds. Blume has assets under management of over $600 million. It focuses on early-stage, technology-led startups in sectors like edtech, fintech, health, commerce, and consumer internet.
The latest fund will be managed by its 15-member investment team led by Sajith Pai, Arpit Agarwal, Ashish Fafadia, Sanjay Nath and Karthik Reddy. Blume was set up in 2010 by Reddy and Nath. “Thanks to an increasing reality of IPO and M&A exits, there is a resurgence of 2x founders (second-time founders), as well as higher quality first-time founders,” Nath said.
Blume’s portfolio companies also include Slice, Spinny, Locus, Healthifyme, Smallcase, and Pixxel.
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