New Delhi, Dec 7 (PTI) Venture capital firm Blume Ventures on Wednesday said it has closed its fourth fund with a corpus of over USD 250 million which it plans to invest in 30-35 companies

The firm's assets under management has reached over USD 600 million.

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"Blume's Fund IV investors include some of India's finest family offices, global family offices, sovereign wealth funds (India and overseas), and emerging market Fund of Funds. The oversubscription on the $200 million target and the support from both existing and new investors is a testament to the track record that continues to grow stronger," the firm said in a statement.

Blume focuses on early-stage, innovative technology-led startups.

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It backs entrepreneurs either building to solve large impactful Indian problems or taking the best of Indian innovation to global markets. The diverse mandate extends from edtech, fintech, health, commerce and consumer internet in the former to robotics and AI to SaaS and enterprise software in the latter category.

"Blume Fund IV will be managed by its over 15 member investment team led by Sajith Pai, Arpit Agarwal, Ashish Fafadia, Sanjay Nath and Karthik Reddy. Investing in 30-35 companies across different technology verticals, Blume will discover and nurture another generation of industry-defining companies built in this cycle," the statement said.

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