Khaitan & Co Acted as the legal counsel and advised Blume Ventures in the setup of their fifth venture capital fund in India and GIFT IFSC. The fund will invest in early-stage Indian and cross-border ventures with investments across Health-tech, B2B AI, Consumer, Fin-tech and Deep-tech. The fund has raised USD 175 million in its first close from institutional investors, multilateral institutions, corporates, and family offices.
The role of firm included negotiations with key institutional investors for their investment in Fund V and providing assistance in closing of the transactions.
The core team consisted of Siddharth Shah (Partner), Divaspati Singh (Partner), Sahil Shah (Partner), Aditya Tandon (Senior Associate), Athul Kumar (Associate) and Shambhavi Sinha (Associate).