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Blume Ventures closed IIA Fund at $41 million

Nabanita Dutta

News Editor

Venture Capital firm Blume Ventures has announced the closing of its opportunity fund- Fund IIA at $41 million for follow-on investments. According to Ashish Fafadia, the Blume Venture partner, the IIA fund was the ideal opportunity for Blume to make partners with Domestic and International institutions to provide them the opportunity to invest in a shorter life fund. Blume is now investing in follow-on funding rounds.