British International Investment

Blume Ventures India Fund IV

IndiaUSASouth AsiaCommunications & IT servicesConstruction & Real estateConsumer - EducationConsumer - other servicesFinancial servicesFood & AgricultureGeneralistInfrastructureManufacturing

Blume Ventures India Fund IV is a venture capital fund investing in tech-led start-ups, with the aim to solve hard problems and impact large markets in India.

Our investment

Description of the investment.

This investment is part of our strategy to (i) support the local entrepreneurial ecosystem in our markets in order to build new businesses which create jobs, and; (ii) provide us access to early-stage companies that have the potential to create transformational impact at scale.

Our investment in Blume Venture Fund IV will support the growth of scalable tech businesses which are increasing access to economic opportunities, goods and services, and improving quality of life for consumers through tech.

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.

What?

Impact

Improve quality of life for consumers including access to healthcare and education (SDGs 3, 4) and clean-tech solutions (SDG 13)

How?

Primary Secondary

Through investments in healthtech and climate tech.

Providing capital to 40-45 early-stage companies, enabling their growth and generating direct employment and increased income for farmers.

Who?

Stakeholder Geography Characteristics
Consumers (including patients and students)

India (with some investees having global customer base)

Mostly middle income, although some companies may reach lower-income segments through innovative use of technology.

Employers and suppliers

India

Planet

How much?

Scale Depth/Duration

The VC model implies the potential for large scale, over a long-term horizon. If successful, companies have the ambition to reach millions; however, this is likely to only come from a subset of companies.

Variable depending on the nature of goods and services provided and the population reached.

Contribution/additionality

Contribution/additionality
  • Financial additionality: Our participation in the fund will enable us to access to impactful co-investments, which are typically of lesser interest to purely commercial investors and may not be prioritised.
  • Value additionality: We will support the manager in developing environmental and social and business integrity processes that will reduce execution risk and negative impact

Risk

Execution Risk
  • Relates to the risk that businesses will fail to scale and deliver on the expected impact.

Impact score

Impact score (at point of investment)

The Impact Score is a tool to help us manage our performance against our strategic impact objectives. It is designed to incentivise investments that support our productive, sustainable, and inclusive objectives. You can find out more here.

The Impact Score is published for investments made from 2022 onwards. The Impact Scores are calculated at the point of investment. We publish the Impact Scores of new investments annually, once the information has been externally assured by an independent third party.

4

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.

  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We agreed with the fund manager to develop an ESG management system and enhanced safeguarding policy. These were among the items included in an ESG action plan with the fund.

Environmental and social risk

Low

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D5478
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    South Asia
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Communications & IT services, Construction & Real estate, Consumer - Education, Consumer - other services, Financial services, Food & Agriculture, Generalist, Infrastructure, Manufacturing

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Fund
    Start date :
    December 2022
    Amount :
    $14.4m
    Currency of investment :
    INR
    Fund Manager:
    Blume Venture Investment Manager LLP
    Domicile

    The company or investment fund’s place of incorporation.

    :
    India

Investments made by this fund into companies:

For further information about these companies, visit https://blume.vc/

Investment name Country Region Sector Start date Status
Aerem Solutions Private Limited India South Asia Communications & IT services March 2022 Active
Asset 10 Software Private Limited India South Asia Communications & IT services June 2022 Active
Atomicwork Inc. USA Rest of the World Communications & IT services April 2023 Active
Bambrew Plant Fiber Technology Pvt. Ltd India South Asia Food & Agriculture February 2024 Active
Catchup Technologies Private Limited India South Asia Consumer - other services January 2022 Active
Chefkart Hospitality Private Limited India South Asia Consumer - other services February 2022 Active
Clientell Technologies Pvt. Ltd India South Asia Communications & IT services February 2024 Active
DPDZERO Technologies Private Limited India South Asia Financial services September 2023 Active
Flashmonk Private Limited India South Asia Communications & IT services September 2023 Active
Ikan Uplevel Technologies Pvt. Ltd India South Asia Consumer - Education March 2024 Active
Localbuy Technologies Private Limited India South Asia Consumer - other services December 2023 Active
Multipl Fintech Solutions Private Limited India South Asia Communications & IT services May 2022 Active
Mysa Innovation Private Limited India South Asia Financial services September 2023 Active
Nabosh Technologies Private Limited India South Asia Generalist January 2022 Active
Opticap Holding India Private Limited India South Asia Food & Agriculture February 2024 Active
Oritur Technologies Private Limited India South Asia Communications & IT services October 2021 Active
Pico Xpress Private Limited India South Asia Construction & Real estate April 2023 Active
Resellme Tech Private Limited India South Asia Communications & IT services September 2022 Active
Scribble Data Private Limited India South Asia Communications & IT services March 2022 Active
Since99 Apparel Private Limited India South Asia Manufacturing April 2023 Active
Speedup Inc India South Asia Communications & IT services February 2024 Active
Upgrid Solutions Private Limited India South Asia Infrastructure December 2021 Active
Vecmocon Technologies Private Limited India South Asia Infrastructure September 2022 Active
Virohan Private Limited India South Asia Communications & IT services January 2023 Active
Wattapp Technologies Private Limited India South Asia Infrastructure December 2021 Active
Zapscale Inc. USA Rest of the World Communications & IT services December 2021 Active
Zipy Inc. USA Rest of the World Communications & IT services December 2021 Active
Zivy Applications India Private Limited India South Asia Communications & IT services June 2023 Active

Subscribe to receive our latest news and updates