Early-stage venture capital (VC) firm Blume Ventures has announced the initial closing of its new flagship fund at $175 million, securing commitments from both existing and new investors.
Its latest investment vehicle, Blume Ventures Fund V, is targeting a final close of $250-275 million by early 2026.
The announcement of Fund V coincides with Blume Ventures’ 15th anniversary. Over the years, the firm has invested in startups including Purplle and Unacademy, which later reached unicorn status.
Going forward, through Fund V, Blume plans to continue with its investment thesis of backing early-stage startups. It has already begun deploying capital with initial investments across sectors such as health tech, consumer, fintech and deeptech.
Its portfolio includes names such as Mave Health, Confido, Lucira, Ozi, PowerUp Money, and iDO.
Established in 2010, Blume Ventures manages over $800 million in assets across five core funds. The firm has investment teams in Bengaluru, Mumbai, Delhi, GIFT City, and San Francisco.
Blume Ventures reported that 2025 has seen exits and distributions to limited partners (LPs) from Fund I and II vintages, adding that its Fund III and IV portfolios have also grown, with the firm projecting an aggregate DPI of over $80 million across all funds this year.
Its IPO pipeline includes Turtlemint, which has filed its DRHP with regulators.
