Karthik Reddy, co-founder and managing partner, Blume Ventures; image credit: Special arrangement
Synopsis
For homegrown seed funds, taking their investee startups to the next round, navigating the oligopoly of ten funds which dominated the Series A stage, was the hardest challenge, according to Reddy. He explains how the VC fund established itself against the odds.
From a USD20 million first fund in 2011, venture capital (VC) firm Blume Ventures has come a long way. Blume last raised USD290 million, its fourth fund, two years ago. One of the largest homegrown early-stage VC, Blume raised USD474 million in four funds and backed nearly 170 startups. After exits and shutdowns, it currently has an active portfolio of 70 startups that includes five unicorns and half a dozen soonicorns (soon to be unicorns).
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