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News on Medial
Blume Ventures sees five-fold gain from first fund
Economic Times
·
1y ago
Medial
Indian venture capital firm Blume Ventures has announced that its first fund has yielded returns of over five times the invested capital, including an extension fund. The firm invested a total of ₹114 crore ($15 million) between 2010 and 2015, generating 98% of the returns from 17 companies. Blume Ventures, which aims to address a gap in seed-stage funding for startups, has raised four funds so far. The latest fund, launched in 2022, raised $290 million. The firm has realised ₹549 crore ($73 million) through exits, with more expected in early 2023.
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Oister Global floats $53-mn fund to make LP-style bets
VCCircle
·
1y ago
Medial
Investment firm Oister Global has launched a fund worth $52.7 million to invest in venture capital and private equity firms in India. The Oister India Pinnacle Fund will target early, growth, and late-stage VC and PE funds that support businesses in consumption-driven and emerging technology-led sectors. The fund plans to back five funds with investments ranging from $5.4 million to $16 million. Oister Global primarily invests in top funds and has previously backed companies such as Blume Ventures and Stride Ventures. The fund aims to make its first close in May.
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Blume marks first close of its third growth fund at Rs 200 crore
Money Control
·
2y ago
Medial
Blume Ventures, an Indian venture capital firm, has announced the first close of its third growth fund at ₹200 crore. The fund aims to invest in technology startups at the Series B and C stages. Blume Ventures has been an active investor in the Indian startup ecosystem and this new fund will enable them to support and fuel the growth of promising companies.
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Blume Ventures injects $10M in workforce skilling startup
Inshorts
·
1y ago
Medial
Early-stage venture fund Blume Ventures has invested $10 million in Upward & Onward Inc's technology and AI workforce skilling platform, Interview Kickstart. The funding, which is Blume Ventures' largest opening investment to date, will be used to solidify Interview Kickstart's position in the United States and support its global platform expansion efforts.
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Blume Ventures aims at nearly $1 bn AUM with fifth VC fund
VCCircle
·
10m ago
Medial
Blume Ventures, an early-stage venture capital firm, is planning to raise its fifth fund with the aim of reaching around $1 billion in assets under management (AUM). The firm has invested in successful startups like Unacademy and Purplle. Founded in 2010 by Karthik Reddy and Sanjay Nath, Blume Ventures is known for its focus on early-stage investments.
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Blume Ventures partners with Dubai’s NB Ventures for $50 mn India fund
VCCircle
·
7m ago
Medial
Blume Ventures, a Mumbai-based venture capital firm, is collaborating with Dubai-based NB Ventures to create a $50 million investment fund targeting IPO-bound startups in India. NB Ventures is known for direct venture capital investments in growth-stage startups and acting as a limited partner in other funds. This partnership aims to leverage Blume Ventures' expertise in the Indian startup ecosystem to support high-potential companies looking to go public.
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Vecmocon Pockets $10 Mn To Capitalise On EV Offerings
Inc42
·
8m ago
Medial
Vecmocon Technologies, an electric vehicle mobility company, has raised $10 million in its Series A funding round. The round was led by Ecosystem Integrity Fund and British International Investment, with participation from existing investor Blume Ventures. The funding will be used to expand into other segments, such as electric two-wheelers, three-wheelers, light commercial vehicles, and buses. Prior to this, Vecmocon had raised $5.2 million in a Pre Series A funding round in 2022, with investment from Tiger Global, Blume Ventures, and angel investors.
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Tiger Global-backed Battery Smart raises $33 Mn in pre Series B
Entrackr
·
2y ago
Medial
Battery swapping network Battery Smart has raised $33 million in a pre-Series B funding round. The round saw participation from the startup’s existing investors Tiger Global and Blume Ventures and new investors The Ecosystem Integrity Fund (EIF) and British International Investment (BII).
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Optimo Loan raises $10 Mn seed in round
Entrackr
·
1y ago
Medial
MSME-focused lending-tech startup Optimo Loan has raised $10 million in its seed round led by Blume and Omnivore, with additional contribution from Optimo’s founder, Prashant Pitti. The proceeds will be used to expand its operations, enhance its technology, recruit new talent, and broaden its presence to 20 locations in rural India by the end of this year, the startup said in a press release. Founded by Pitti, Optimo facilitates access to quick, easy, and flexible financing options for MSMEs. It supports businesses in investing in new technologies, increasing liquidity, and ensuring business continuity. The startup actively contributes to local job creation, economic growth, and community development. The startup is also building a co-lending platform for MSMEs with a unique underwriting method. This approach allows Optimo to gain deeper insights into the financial health of MSMEs, enabling informed lending decisions and catalyzing entrepreneurship and economic growth in rural communities. That said, early-stage India-focused venture fund Blume Ventures invests in seed and pre-Series A rounds in tech-led startups. It is presently investing via its Fund IV, a $300 million vehicle supported by institutional LPs and family offices. Following the close of Fund IV, Blume now has an AUM (Assets Under Management) of over $600 million.
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True North raises ₹1,000 crore towards maiden credit fund
Livemint
·
1y ago
Medial
Homegrown private equity firm True North has raised ₹1,000 crore for its first credit fund, targeting a 15-18% internal rate of return. The capital was raised from Indian ultra-high net worth individuals and family offices. The firm plans to deploy the capital over the next five years and expects to close the fund at around ₹1,300-1,400 crore by December. True North has previously focused on private equity investments and sees private credit as a natural extension. The credit fund aims to bridge supply-demand gaps for middle-market companies, providing capital solutions for shorter tenures.
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Bengaluru-based VC firm Blume Ventures invests $10M in skilling startup Interview Kickstart
IndianStartupNews
·
1y ago
Medial
Bengaluru-based venture capital firm, Blume Ventures, has invested $10 million in Interview Kickstart, an upskilling platform for tech professionals. The investment is the largest maiden cheque by Blume Ventures into a software and AI-focused company. Interview Kickstart provides comprehensive programs in AI, machine learning, data science, and other advanced engineering and product areas. With this funding, Interview Kickstart plans to expand its reach globally, with India being its first test market outside of the US. The investment reflects Blume Ventures' belief in the mission and impact of Interview Kickstart in helping professionals advance their careers.
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