VCs Anup Jain and Rajeev Suri Opens New $75 Mn Fund, Named ‘BlueGreen Ventures’

Anup Jain and Rajeev Suri, both former managing partners of Orios Venture Partners, have founded BlueGreen Ventures, a $75 million fund focused on early-stage businesses in India and IPO-ready companies.

The firm, which includes a green shoe option, hopes to finalize its first deal by the end of February next year. The fund, which is also registered with the Securities and Exchange Board of India (SEBI), is looking at a two-pronged investing approach.

The first section will concentrate on early-stage investments in sectors such as climate and sustainability, fintech, and B2C, addressing specific concerns in India.

Jain and Suri have previously invested in firms including BatterySmart, Zupee, Karbon, Ixigo, Vedantu, Mobikwik, and CarDekho.

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BlueGreen Ventures will concentrate on three main areas: climate and sustainability, financial inclusion via fintech, and consumer-driven firms that respond to the shifting demands of a post-pandemic society.

Investments in these areas will range from INR 7 crore to INR 12 crore, with BlueGreen Ventures leading each round.

The second strategy focuses on more mature enterprises with a view on the public market.

BlueGreen Ventures will make secondary investments in companies that plan to go public within four to five years, with investments ranging from INR 20 crore to INR 30 crore.

Notably, Jain and Suri will lead the firm’s team, which will also include analysts, an ESG associate for LP reporting, and finance and fund accounting professionals.

Associates will be responsible for discovering acquisitions, finalizing transactions, and advising on investment decisions such as follow-ons and exit strategies.

The goal of post-investment management will be to help portfolio companies succeed.

The business sees significant opportunity in startups that go beyond standard B2C models to offer bespoke solutions.

According to Jain, changes in consumer behaviour during the epidemic have resulted in increased demand for health and nutrition products, such as supplements and protein-based foods.

These shifts are also noticeable in the travel industry. “The travel sector, for example, is no longer confined to branded hotels or traditional hop-on, hop-off bus tours,” Jain told the newsroom.

Similarly, the agriculture sector has the potential for low-cost solutions that can result in considerable profits, especially if they provide farmers with new revenue sources.

“It could be education, travel, health and nutrition, pets, elder care – really, it could be anything, as long as it reflects post-Covid consumption mindsets,” Jain told reporters.