One of India’s leading Venture Capital, Blume Ventures has announced that it has raised $41 million in Fund IIA.
In an official statement, Blume Ventures said that “It has completed the final close of its opportunity fund, titled Fund IIA, in December 2019, and has raised $41 million in the final close from both domestic and international investors.”
“The Fund IIA will invest in follow-on rounds of winners of Funds I, IA, and II. Fund III will target the new emerging startups,” the statement added.
Speaking at the close, Karthik Reddy, co-founder & investment team member of Blume Ventures, said, “We are playing a very active role in most of them even beyond series B – on board and leveraging the powerful Blume Platform Team.”
“We had a little or zero reserves of any of these stars. Our LPs saw the rationale and sponsored our opportunity fund strategy,” Karthik added.
About Blume Venture:
Founded by Karthik Reddy and Sanjay Nath, Blume Ventures has backed more than 130 startups including startups like Locus, Purplle.com, Turtlemint, RailYatri, Cashify, Unacademy, Bhive Workspace and many others.