Blume Ventures said on Wednesday it has raised $105 million in the first close of its fourth fund, less than two years after finalizing its previous fund, as investment activity intensifies in the world’s second largest internet market.
The 11-year-old firm, one of the largest Indian venture funds, said it expects its new fund to balloon to close to $200 million by March next year, which is when it hopes for the final close. Its current LPs include some multi-family office wealth management funds, sovereigns, and some corporates across Asia and Europe.
With the new fund, the investment firm will continue to focus on backing early stage startups …
