Blume Ventures eyes $200 million fourth fund, raised $105 million in first close

Blume Ventures, an early-stage venture capital firm raised $105 million of its fourth India-dedicated fund, less than two years after finalizing its previous fund, as investment activity intensifies in the world’s second largest internet market. Blume Ventures aims to shore up to $200 million by March next year, which is when it hopes for the final close.

Blume is an early-stage venture fund that provides funding as well as active mentoring to startups. Blume will continue to invest in pre-seed to pre-Series A technology startups in sectors such as consumer internet, small and medium business marketplaces, as well as global opportunities in software and enterprise technology addressed by Indian founders, through the new fund. Blume is one of the few large early-stage funds that has yet to produce a unicorn in 2021, a year that has already given birth to nearly 40 startups valued at more than a billion dollars.

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