Former Orios Partners Introduce BlueGreen Ventures With Maiden $75 Mn Fund

BlueGreen Ventures, a newly launched investment fund by seasoned investors Anup Jain and Rajeev Suri, aims to secure a corpus of $75 million. 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 venture reportedly plans to allocate its capital across climate and sustainability, fintech, and B2C sectors. Cheque sizes for early-stage investments will range from Rs 7 crore to Rs 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 Rs 20 crore to Rs 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. Both Jain and Suri bring experience from previous investments in prominent companies, including Ixigo, MobiKwik, CarDekho, Zupee, and BatterySmart.