Blume Ventures makes first close of $25 million for new opportunity fund

Early-stage venture capital firm Blume Ventures has made the first close of its new opportunity fund at Rs 200 crore (around $25 million), about half the final target that it expects to achieve by August.

Blume will use three-fourths of the corpus to purchase assets held by its existing funds, giving investors in those funds an exit option, the VC firm’s partners told ET.