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Through its first fund – a rupee-denominated fund – Blume Ventures began investing in 2011, and has backed startups such as GreyOrange, Carbon Clean, Cashify, Purplle, Zopper, Taxi For Sure and WebEngage.
While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.
Blume Ventures' inaugural fund clocks 5x gross returns - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Blume Ventures generates 5x gross return from first fund yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
ETtech Sanjeev Bikhchandani, the founder and vice chairman of Info Edge, wrote Zomato’s first cheque of Rs 4.7 crore in 2010 and was its sole investor in the first four funding rounds. Info Edge, which runs portals like Naukri.com and 99 acres.com, has seen its investment value zoom nearly 1,050 times after the food delivery app’s IPO. Bikhchandani, who has been closely associated with Zomato through all its crests and troughs, told ET’s Digbijay Mishra and Sneha Shah in an interview that it will hold on to the bulk of the shareholding (around 15%) as it sees tremendous growth potential in Zomato. Info Edge, he said, has seen an internal rate of return (IRR) of roughly 60% from the restaurant aggregator over the years, a record. Bikhchandani, a first-generation internet entrepreneur, also spoke about what the Zomato IPO means for the startup ecosystem and how exits will ensure more capital is ploughed back. Edited Excerpts:
We are holding on to Zomato, there is still tremendous potential: Sanjeev Bikhchandani SECTIONS Share Synopsis Overall, the Zomato investment has delivered handsome returns – our back of the envelope calculation is that the IRR is more than 60%. Over a 11-year period, this must be some sort of a record. Great companies do that for their investors. ETtech Sanjeev Bikhchandani, the founder and vice chairman of Info Edge, wrote Zomato’s first cheque of Rs 4.7 crore in 2010 and was its sole investor in the first four funding rounds. Info Edge, which runs portals like Naukri.com and 99 acres.com, has seen its investment value
Koo has raised $30 million in Series B funding. Tiger Global has led the investment roundwith existing investors Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also participating in the round. IIFL and Mirae Assets are other new investors who have come on board the cap table with this round.
Read more about India's Koo raises $30 million in funding round led by Tiger Global on Business Standard. Koo was founded by serial entrepreneurs Aprameya Radhakrishna, founder of Taxi For Sure and Mayank Bidawatka who previously founded companies like Media Ant and Goodbox