Early-Stage Venture Capital Firm Blume Ventures Backs Chingari, Monrow Through Founders Fund
Blume Ventures, an early-stage venture capital firm, has announced the launch of ‘Blume Founders Fund’.
The fund aims to build long-term relationships with founders and extend Blume’s platform and network to these founders.
The fund will utilise one to two percent of the investment firm’s core investment funds.
The fund aims to invest $25,000 to $100,000 depending on the size of the round, strength of the relationship, etc.
Started in the last quarter of 2020, ‘Blume Founders Fund’ is looking to invest in 12-15 founders through this fund.
The early-stage venture capital firm, via this fund, has invested in five companies, including short video app Chingari, lifestyle DTC brand Monrow and fintech platform Indiagold.
Blume Founders Fund will be managed by Sarita Raichura (Principal at Blume Ventures, who was previously with the Indian Angel Network.
The fund will also be mentored by Sanjay Nath, Co-founder and Managing Partner, Blume Venture Partners.
Talking about the fund, Sanjay said,
“Founder journeys are about taking the long road, and all start with relationships and trust established early on with their investors. We are excited to bring Blume’s aggregate brand value, networks, and knowledge base to help our Blume Founders Fund cohort, build, hire, collaborate, and scale. With 2020 continuing to fuel the rise of entrepreneurship, the new year is a great time to launch this Fund and partner more closely with new Indian founders starting up.”
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