BlueGreen Ventures, founded by veteran investors Rajeev Suri and Anup Jain, has unveiled a $75 million venture fund focused on supporting early-stage startups in India.

Backed by global CEOs, CXOs, organisations, and Indian entrepreneurs, the fund aims to accelerate growth in high-potential sectors within India’s thriving startup ecosystem, the company announced on 13 November.

“We are privileged to have the full support of the ecosystem as we approach our first close,” Suri and Jain said. “They have placed their trust in us, recognising our commitment, values, and passion for partnering with founders to create success stories.”

With the help of angel investors, government agencies, and other venture capitalists, the first closing is anticipated shortly.

According to BlueGreen Ventures, investing is approached from two different angles. Initially, the fund focuses on high-impact sectors like sustainability and climate change, financial solutions for “new India,” and business-to-consumer (B2C) endeavours. It targets early-stage firms from Seed to Series A.

BlueGreen will spearhead investments in this sector, issuing checks ranging from Rs 7 crore to Rs 12 crore, and intends to collaborate closely with founders to assist in overcoming early-stage obstacles.

Second, by investing through secondaries, the fund would help established businesses that are ready for initial public offers (IPOs) in the next four to five years. Check sizes range from Rs 20 crore to Rs 30 crore.

According to the creators, limited partners (LPs) are already interested in this strategy because of the startup ecosystem’s potential for growth.

Sophie Lambin has joined BlueGreen Ventures as a strategic adviser to help the company better focus on climate initiatives.

Having worked for companies like L’Oréal, Citibank, and PwC, Lambin, the CEO and creator of Kite Insights and The Climate School in London, brings experience in sustainability and corporate responsibility.

As General Partners, Suri and Jain have demonstrated their ability to steer profitable initiatives. According to them, their initial round of investments from 2018 to 2021 yielded an internal rate of return (IRR) of more than 60% and gave limited partners (LPs) back almost the whole primary amount.

Among the notable businesses in their portfolio are Wright Research, Bimaplan, Nxtwave, BatterySmart, Zupee, Beato, Werize, Karbon, Ixigo, Vedantu, Mobikwik, CarDekho, and Varaha.

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