Leo Capital is understood to be on the road to raise its third fund, while Blume Ventures indicated that it could soon take a cautious approach towards fresh investments after the recent fiasco at BYJU’S.
Leo Capital eyes $125m for third fund: Report
Leo Capital, an early-stage venture capital firm headquartered in Singapore, is on the road to raise its third fund with a corpus of $125 million, stated a report by VC Circle.
The firm, which made the first close of the proposed investment vehicle last November, is looking to ramp up its investments in sectors such as fintech, gaming, DevOps, security ops, and cybersecurity, among others.
Leo recently made headlines when it roped in Harish Kumar as a partner to lead corporate development efforts for its portfolio companies.
Blume to cut back on ‘frivolous’ investments
Early-stage venture firm Blume Ventures indicated that it could soon take a cautious approach towards fresh investments after the fiasco at BYJU’S.
A report by Bloomberg stated that the investor is looking to cut back on “frivolous” investments as it looks to push its portfolio companies to shift their focus to profitability.
Set up in 2010 by Karthik Reddy and Sanjay Nath, Blume has backed over 100 startups, including Dunzo, Unacademy, Slice, Spinny, Classplus, Servify, Lambdatest, and Koo, among others.
Blume Ventures currently manages assets worth $625 million. It made the first close of its new opportunity fund, Fund 1Y, at $25 million in June this year.