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Miguel Cordon · · 1 min readEarly Unacademy investor raises $105m in first close of fourth fund
“Blume Ventures, an early investor in startups such as Unacademy, Dunzo, Purplle, and Spinny has hit the first close of its fourth venture capital fund at US$105 million, allowing it to pursue new deals and cut larger cheques amid a historic funding boom,” Moneycontrol reported.
Details:
- The investment firm is eyeing US$200 million for the final close for the fund by around March or April next year, the report noted, citing managing partner Karthik Reddy.
- The latest fund will look for pre-seed to pre-series A investment opportunities across sectors such as consumer internet, small and medium-sized business marketplaces, and global software and enterprise tech firms founded by Indians.
Dive deeper:
- If it reaches its target amount, the fourth fund will be Blume’s largest to date, almost doubling its US$105 million third fund.
- One of Blume’s most recent investments is its participation in the US$140 million series D round of Purplle, an India-based online beauty platform. Kedaara Capital, Premji Invest, and Sequoia Capital India also participated in the round.
Editing by Collin Furtado and Lorenzo Kyle Subido
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