Blume Ventures Announces First Close Of Fund IV At $105 Million Blume will continue to invest in its core strategy- pre-Seed to pre-Series

Blume Ventures has announced the first close of its fourth fund - Blume Fund IV - at $105 million. With Fund IV, Blume will continue to invest in its core strategy— pre-Seed to pre-Series.

The first close of Fund IV exceeds Blume's Fund III raise of $102 million in 2018-19. The historic AUM at Blume was around $300 million (60 percent in its core seed funds and 40 percent in continuity funds). This will grow to over $500 million by March 2022 when Blume proposes to achieve its final close of Fund IV. The larger Fund IV gives the team the ability to participate longer through the lifecycle of its portfolio companies, and its target of $180-$200 million allows it to back companies deeper, while staying true to its "conviction capital' investment philosophy, said a statement

"We are grateful to our existing anchor LPs for renewing their confidence and belief in Blume, with their strong and emphatic participation in our first close. In addition to the overseas institutional investors, domestic wealth management platforms and family offices that have backed us, our LP base also includes Unicorn operators and seasoned founders who mentor and advise our portfolio founders on critical challenges of building, scaling, hiring and growth," said Ashish Fafadia, partner at Blume.

Blume was launched in 2010, with a mission to reimagine startup financing for India. Over all these years, we have stayed true to that mission. At heart we are a startup, constantly challenging ourselves and the status-quo. We are delighted to be able to support the next cohort of BIZ Experiencess through our new fund and offer them long-term capital, partnership and platform, added the statement.