Former Managing Partners at Orios Venture Partners, Seasoned investors Anup Jain and Rajeev Suri, have launched a new fund BlueGreen Ventures.
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The early-stage fund aims to raise $75 million, with a green-shoe option. It expects to complete the first close in February 2025 and the final close by the end of 2025.
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The fund will invest some of its capital in early-stage startups in the climate and sustainability, fintech, and business-to-consumer (B2C) sectors.
According to Anup Jain, Founding Partner at BlueGreen Ventures, check sizes will range between Rs 7 crore and Rs 12 crore, with a portfolio of 20 startups. The fund would also consider leading investments alongside other investors in the round.
Aside from early-stage investments, the fund will make secondary investments in a few growth companies that plan to go public within four to five years. It plans to invest an average of Rs 20 crore to Rs 30 crore in these companies, which have an average valuation of $250 million.
“Our investment in secondaries of growth companies is an opportunity to offer liquidity to the Limited Partners in the fund over a period of five years or so. Typically, early-stage investments alone take seven to eight years for returns. We will be looking at companies with proven leadership teams, which are operationally profitable and have demonstrated a clear product-market fit,” Anup Jain said.
“We have also seen contributions from investors beyond the metro cities looking for private market diversification in addition to their existing public market portfolio,” Rajeev Suri, Founding Partner at BlueGreen Ventures.
The fund’s corpus, which is made up of nearly 70% Indian LPs and the rest coming from outside India, will be split roughly 60% in early-stage bets and the rest in growth companies. Angel investors, government bodies, founder-investors, and family offices make up the current LP mix.
BlueGreen Ventures will also add investment and ESG associates to its team. Sophie Lambin, founder and CEO of Kite Insights, a London-based climate advisory firm, has been appointed a strategic advisor to the board.
About BlueGreen Ventures
Founded in 2024, BlueGreen Ventures’ dual strategy, drawing strong LP interest, is tailored to India’s maturing startup ecosystem. The first pillar focuses on early-stage companies (seed to Series A). The second pillar selectively backs mature, IPO-ready companies through secondaries. It invests in climate and sustainability, fintech solutions for underserved communities, and B2C businesses that reflect post-COVID lifestyle shifts.
