In this episode, Karthik Reddy (Co-founder & Managing Partner, Blume Ventures) shares a rare, transparent look into how secondaries are unfolding across Blume’s portfolio — including examples from Purplle, Darwinbox, Spinny, and STAGE.
He walks through how fund timelines and company maturity shape secondary decision-making, and why liquidity in pre-IPO companies is now a key driver of DPI.
In this episode:
Why Blume exited partially from Purplle and may do the same with Spinny
The structure of Darwinbox’s $140M round with significant secondary
Why STAGE used its $12.5M round to offer liquidity to early angels
How fund lifecycle pressures (Fund I vs. Fund II) influence decisions
The shift in focus from “tiny” secondaries to IPO-ready assets
This is a practical, behind-the-scenes view into how venture firms like Blume think about liquidity — and how secondary events impact both fund performance and founder alignment.