Early-stage venture capital firm Blume Ventures has raised $175 million in the first close of its fifth fund, Blume Ventures Fund V, and aims to complete the final close at $250–275 million by early 2026.
The firm said the latest fund has drawn commitments from its existing limited partners along with new institutional investors, multilateral agencies, corporates, and family offices.
The fund, which coincides with Blume’s 15th anniversary, will continue its focus on early-stage startups. The Bengaluru-based VC firm has already begun deploying capital from the fund, with investments in Mave Health and Confido (healthtech), Lucira and Ozi (consumer), PowerUp Money (fintech), and iDO (deeptech).
Founded in 2010, Blume Ventures has over $800 million in assets under management (AUM) across five core funds and follow-on vehicles. It typically invests in seed and pre-Series A rounds of technology-led startups. Its portfolio includes startups such as Battery Smart, Cashify, Classplus, Pixxel, Purplle, Servify, Slice, Spinny, Turtlemint, and Ultrahuman.
"2025 has emerged as a pivotal year for Blume, with substantial momentum in exits and
distributions to Limited Partners across Fund I and II vintages. Fund III and IV portfolios
have demonstrated strong growth, with the firm anticipating an aggregate DPI of over
$80 million across all funds in 2025," the firm said in a statement.
Its IPO pipeline is set to kick off with Turtlemint, which recently filed its draft red herring prospectus (DRHP) with regulators.
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