Blume Ventures, an early-stage venture capital firm, has elevated two senior members of its investment team, Arpit Agarwal and Sajith Pai, as investment partners.
This announcement follows the final close of the firm’s Fund IV last year, where Blume raised $290 million from institutional investors. Arpit joined Blume in 2014 and has been an ecosystem enabler in his role as a founding member of the Headstart Network and the TLabs teams.
Sajith joined Blume in 2018 after almost two decades at The Times Group, where he was involved in strategy and corporate development. At Blume, he has invested in companies across EdTech, HRTech, B2B Marketplaces, Workforce enablement, and other consumer Internet business models.
“While Blume has raised its largest-ever fund, it has been with the implicit nod of our investors that we have five strong investment leaders now, each with a strong grip on the sectors they specialise in. Sanjay Nath leads our strength in cross-border SaaS, while Arpit Agarwal heads Emerging Tech (including EVs and Climate Tech). Ashish Fafadia heads Fintech and Agri, while Sajith Pai and Karthik Reddy lead Domestic Consumer Internet and B2B Marketplaces (including EdTech, Health, Commerce, and Brands),” the firm noted in a statement.
In the absence of strong >$200 million funds historically, Blume has also been raising Continuity funds since 2018 for its Fund I and II winners. It has completed the first close of its $60-million Continuity Fund, Fund 1Y, which will invest in Purplle, Carbon Clean, Cashify, Zopper, and other breakout companies. Today, Blume has over 25 companies at more than a $100 million valuation and 10 ‘soonicorns’ (>$500 million in the last valuation) and unicorns.