BlueGreen Ventures has Launched its Maiden Fund at $75 Million

In an interview with ET, Anup Jain and Rajeev Suri, who departed from their roles as managing partners at early-stage venture firm Orios Venture Partners in September 2023, announced the launch of a new investment company called BlueGreen Ventures.

The company stated that it hopes to raise $75 million and has a $25–30 million greenshoe option.

"The first close is anticipated to occur in the next two to three months, and the final close may follow in two or three more quarters," Suri stated.

The fund would invest in pre-IPO businesses through secondary deals and support entrepreneurs in their early stages.

It will concentrate on areas including consumer companies, finance, and climate and sustainability.

BlueGreen Ventures Fundrasing Purpose

According to the partners, the fund would lead the round for early-stage investments with an average check size of between Rs 7 crore and Rs 12 crore, while the amount for late-stage enterprises will range between Rs 20 crore and Rs 30 crore.

BlueGreen Ventures intends to spearhead the fundraising rounds for the early-stage investments.
According to Jain, the company will mainly target entrepreneurs in BlueGreen Ventures' priority industries that are developing locally tailored solutions for Indian issues. 

"We want to expand on our achievements in climate and sustainability models by tackling climate objectives and issues unique to India with Indian entrepreneurs and Indian solutions on a large scale. And that is what motivates us to create this, and we are quite confident in it since we have been successful fund managers in those two," he added.

According to Jain and Suri, the company has already received pledges from a few CEOs of multinational corporations. The sponsors' names were kept a secret.

Finding the returns is the top concern for fund managers. Additionally, these are hazardous returns, indicating that they are novel business ideas that are not yet in use. It is entrepreneurs that make that model a reality. We place a wager on them, we encourage their path, and they manage to turn it into a business model," Jain stated.

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While Suri oversaw the company's investor relations, Jain was a member of the investment team at Orios Venture Partners. Werize, Zupee, CarDekho, Ixigo, Mobikwik, Bimaplan, and BatterySmart are all part of their combined investment portfolio.

Prior to joining Orios VP, Jain worked for more than two years developing Redback Advisory Services, which provided startup mentoring. He had previously served as Pizza Hut's senior director of strategic initiatives and Bata's senior vice president of retail.

Suri was a senior vice president and new business incubator at Viu, an over-the-top video streaming company based in Hong Kong, until joining Orios as VP in 2019. Prior positions include head of global marketing at Infosys and senior vice president and chief marketing officer at Reliance Jio.

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