New Delhi-based Blume Ventures, one of India’s indigenous venture capital (VC) firms has elevated Arpit Agarwal and Sajith Pai to investment partners from its investment teams. The announcement came after the company closed its Fund IV at $290 million, last year.

In a statement, Blume Ventures claimed that both Agarwal and Pai’s elevation to investment partners is an acknowledgment of their valuable contribution to the company’s journey and strong underlying portfolio performance. They have been the key ingredients to its growth and institutionalisation. 

Agarwal joined Blume in 2014 and worked as an ecosystem enabler. He also founded Headstart Network and the TLabs teams. He played a pivotal role in shaping portfolio construction since his first investment for Blume in Cashify in 2015 and also led the formation and growth of MetaMorph (previously Passion Connect), one of Blume’s key partners in talent management at our portfolio companies. On the other hand, Pai brought a distinctive advantage to the VC ecosystem. With Blume, he invested in companies across edtech, HRtech, B2B marketplaces, workforce enablement, and other consumer Internet business models. 

Blume Ventures has claimed to raise continuity funds since 2018 for its fund I and II winners. It completed the first close of its $60 million continuity fund, Fund 1Y. It will utilise the fund in investing in companies like Purplle, Carbon Clean, Cashify, Zopper, and other breakout stars.

Since its inception, it has backed more than 25 companies with over $100 million valuation. With the newly generated capital, it is eying to back a bunch of start-ups with widening leadership teams.