Blume Ventures has achieved the first close of its latest flagship vehicle, Fund V, at $175 million, marking another milestone in the firm’s growth journey. The final close is expected to reach $250–275 million by early 2026, according to the venture capital firm.
The fund has attracted commitments from a mix of existing and new investors, including institutional investors, multilateral agencies, corporates, and family offices.
Blume’s previous fund, Fund IV, was closed at over $250 million in December 2022. Staying true to its early-stage investment strategy, Fund V will continue to back Indian startups in health-tech, consumer, fintech, and deeptech sectors. The fund has already made initial investments in companies such as Mave Health, Confido, Lucira, Ozi, PowerUp Money, and iDO.
The firm highlighted increased exit activity in 2025, with substantial distributions to Limited Partners from early fund vintages. Blume expects to cross an aggregate DPI of $80 million across its funds this year. Its IPO pipeline is also gaining traction, with Turtlemint being the first portfolio company to file its draft prospectus with regulators.
Blume Ventures primarily invests in seed and pre-Series A rounds, backing technology-led startups targeting Indian markets and global expansion. The firm’s portfolio spans across mobility, consumer tech, space, and financial services.
Currently, Blume manages over $800 million in assets across five core funds and related vehicles. Its notable portfolio companies include Battery Smart, Cashify, Classplus, Pixxel, Purplle, Servify, Slice, Spinny, Turtlemint, and Ultrahuman.
With Fund V, Blume aims to deepen its early-stage investments and enhance founder support programs, continuing its mission to nurture India’s next generation of transformative startups.
By: Sandhya Bharti
