Seasoned investors Anup Jain and Rajeev Suri, former Managing Partners at Orios Venture Partners, has launched a new fund BlueGreen Ventures, an early-stage investment fund.
The early-stage fund plans to a fund with a corpus of $75 million with a green-shoe option. The fund, which targets early-stage startups and secondary investments in growth-stage companies, is anticipated to close its first round by February 2025, with final closure expected by the year-end.
The fund will deploy a part of the capital in early-stage startups across climate and sustainability, fintech, and business-to-consumer (B2C) sectors. Cheque sizes for early-stage investments will range from ₹7 crore to ₹12 crore, and the fund aims to back around 20 startups within this phase. Additionally, it will seek to lead rounds alongside other investors in the ecosystem.
As part of its secondary strategy, BlueGreen Ventures will invest in select growth-stage companies expected to go public over the next four to five years. Reports indicate an investment range of ₹20 crore to ₹30 crore, targeting companies valued at around $250 million. This secondary approach is designed to offer liquidity to the fund’s Limited Partners (LPs) within a five-year timeframe, distinguishing it from traditional early-stage investments that generally require longer horizons for returns.
Around 60% of the fund’s corpus will be channeled into early-stage ventures, with the remainder reserved for secondary investments. The fund’s LP base consists of a mix of Indian and international investors, including angel investors, government bodies, and family offices.
Additionally, BlueGreen Ventures has reportedly seen interest from investors outside metro regions seeking diversification into private markets.
BlueGreen Ventures is also set to expand its team with investment and ESG associates and has appointed Sophie Lambin, CEO of climate advisory firm Kite Insights, to its board as a strategic advisor.
“One pillar of our strategy focusses on early-stage companies, from seed to Series A rounds, aligned with India’s growth trajectory. We’re prioritising sectors like climate and sustainability, fintech solutions for the new India, and consumer-driven B2C businesses reflecting post-Covid consumption shifts. Cheque sizes in this segment will range from Rs 7-12 crore, with BlueGreen Ventures taking the lead in every round,” Suri and Jain said in a joint statement.
