Blume Ventures has been a big proponent of B2B startups. Now it is taking a step further to deepen its engagement in the B2B space with the appointment of Radhesh Kanumury as Venture Advisor. In addition to spearheading the firm’s Enterprise Innovation efforts, in his new role, Radhesh would be responsible for investments and mentoring of startups in the Seed/angel stage focused on the B2B space.
Karthik Reddy, Managing Partner, Blume Ventures stated about the appointment, “We’ve always been a believer in backing B2B startups, which comprise a significant percentage of our portfolio. This new initiative advances our entry ‘check-in’ point. Radhesh will focus on investments and mentoring of startups at the seed/angel stage that have at least an MVP in place.”
Radhesh comes with a solid experience of mentoring startups. He earlier ran the Startup initiative of IBM India, called the Global Entrepreneur Program (GEP) and was instrumental in steering the GEP from scratch to the status of a major initiative reckoned by India’s startup ecosystem. The programme also translated in strong revenues for IBM India’s Cloud business. In addition, he also conceptualized and executed IBM India’s biggest B2B startup challenge, IBM India Smartcamp.
Speaking to Inc42, Radhesh threw more light on his new role. He said, “The role would primarily entail investments and mentoring of startups in the Seed/angel stage focused on B2B startups. It would also involve setting up of the accelerator initiative for Blume in the Enterprise Innovations over the next few years, alongside Blume’s Fund III plans.”
Hence B2B will remain a key focus area as Blume plans to launch its third fund in 2018
He further added that the initial focus would be on investments and mentoring of startups that have at least an MVP in place. These would include tech startups in industry verticals including BFSI, Healthcare, Education, Agriculture, Cleantech, Retail, that leverage platforms such as Big Data, AI, VR, IoT, Blockchain, Robotics and more.