About Money And More

Seven Years Ago, Karthik Reddy, Co-Founder And Managing Partner, Blume Ventures, Decided To Fill A Funding Gap In India. So Far, So Good.

- Shruti Venkatesh

In 2007, when Karthik Reddy got his first up-close view of the Indian venture capital industry—as vice president for Brand Capital at the Times Group he invested on behalf of the group in startups through Mumbai Angels Network and India Angels Network—he noticed a “fundamental gap”: There were angel investors and there were $100 million-plus fund managers. There was nobody in between. “My idea was, ‘Can we look and feel like an angel investor, but be institutionalised in our approach?’” says Reddy, who returned to India from the US in 2006, having worked at ABN Amro Bank, Softalia and Instinet.