India’s Blume Ventures has raised over $250 million for a new fund its fourth and largest, doubling it’s size as the company looks to increase aggressiveness in courting early-stage startups as well as diving deeper into supporting it’s portfolio firms.
The company initially looked to raise $200 million but it expanded it’s goals following receiving in-bound requests. The firm handles over $600 million in assets under management and will deploy the larger fund to back about 35 startup companies.
Karthik Reddy, founder and general partner of Blume Ventures said that “The founders now know that we can support them for longer. We didn’t have the firepower before, but we do now”, according to TechCrunch.