Blume raises $41 million to back its portfolio companies

BENGALURU: Blume Ventures has raised a $41-million Opportunity Fund to back a select group of its portfolio companies.

The money was raised from both domestic as well as international investors, many of whom are existing investors, it said in a statement.

Blume Fund IIA will give the fund additional dry powder to double down on its successful bets. The Opportunity Fund has already deployed capital to back companies including Unacademy, GreyOrange, Turtlemint, Dunzo, Purplle, Milkbasket and Tricog.

ET first reported about the fund in its February 19 edition.

“We believe that domestic LPs such as family offices and serial entrepreneurs should partake of the momentum in Indian VC-funded companies,” said Ashish Fafadia, partner, Blume.