Blume Ventures has set up their fifth venture capital fund in India and GIFT IFSC. The fund has raised $175 million in its first close from institutional investors, multilateral institutions, corporates, and family offices.
Khaitan & Co acted as the legal counsel and advised Blume Ventures. The role of firm included negotiations with key institutional investors for their investment in Fund V and providing assistance in closing of the transactions.
The transaction team consisted of Siddharth Shah (Partner), Divaspati Singh (Partner), Sahil Shah (Partner), Aditya Tandon (Senior Associate), Athul Kumar (Associate) and Shambhavi Sinha (Associate).
The new fund will invest in early-stage Indian and cross-border ventures with investments across Health-tech, B2B AI, Consumer, Fin-tech and Deep-tech.
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