Blume Ventures Enters Into Alliance With Draper Venture Network – An Alliance Of Independent Global Venture Funds

Early stage venture fund Blume Ventures is now a part of the Draper Venture Network (DVN). DVN is an alliance of independent VC firms that connects leading entrepreneurs and investors around the world. The alliance will provide Blume’s portfolio companies access to a global network of corporate and ecosystem relationships.

Talking about the association, DVN’s Gabe Turner said, “The dramatic growth of the Indian market speaks for itself. And startups are now serious contenders at addressing the needs of this huge market, which was not the case when we were here in the mid-2000s. VCs like Karthik and Sanjay are inspiring their founders to push forth and succeed. We couldn’t have imagined a better partner than Blume Ventures and are excited to be a part of their journey.”

Tim Draper is one of the US’ leading venture capitalists. The Draper Network, is spread across four continents and has $1.6 Bn in collective assets. Till date DVN members have funded more than 600 companies and exited over 200, including Skype, Baidu, Twitch, etc. Tim Draper was one of the first Valley VCs to enter India with the launch of DFJ India in 2007. Established in 1990, the network has grown into a self-governed organisation of independent venture funds. These funds cooperate on investment diligence, marketing intelligence, corporate relationships and co-investments.

Founded in 2010 by Karthik Reddy and Sanjay Nath, Blume participates in multiple rounds including Seed, Angel and Pre Series A, leading up to follow-on institutional rounds. Blume’s portfolio currently consists of more than 70 active companies and over 150 founders. It recently closed its second fund of $60 Mn.

Sanjay Nath, Managing Partner, Blume Ventures said, “The DVN alliance will help us strengthen our global footprint for our growing portfolio and expand our presence in the Valley. Our portfolio can now easily connect with global founders for cross-sharing of ideas, best practices, and networks.”

All member funds raise their own capital and manage investment decisions independently. These member firms, typically post Seed or Series A & B funds, collaborate on investment insights, deal syndication and share a portfolio services team located in Silicon Valley.

With its recent partnership with Blume, Tim’s early-stage fund Draper Associates and other DVN member funds will tap into the Indian technology sector. Blume Ventures will continue to raise its own capital and manage investment decisions independently.

Some of the investments from Blume’s portfolio include Prepathon; Fintech startup Chillr; Chat-based daily tasks management app dunzo; Bengaluru-based B2B hyperlocal logistics services provider, Roadrunnr; Bengaluru-based health and fitness app HealthifyMe; among others.