Blume Ventures, a Mumbai, India-based early stage venture capital firm, closed its second fund, at $60m.
Limited partners include IIFL Wealth Management, India Aspiration Fund, managed by the Small Industries Development Bank of India (SIDBI), ICONIQ Capital, as well as Japanese investors.
Led by Manging partners Karthik Reddy and Sanjay Nath, Blume Ventures is a seed-stage venture capital firm that backs startups with both funding as well as active mentoring and support.
The second fund backs startups through multiple rounds including seed, angel and pre Series A, leading up to follow-on institutional rounds from larger VCs.
The firm, whose team also includes CFO Ashish Fafadia, principals Adit Parekh, Arpit Agarwal, Avantika Vohra, Rohan Paranipej, and Sajid Fazalbhoy and analyst Dhanasree Molugu, has a portfolio consisting of more than 60 active companies.