BlueGreen Ventures’ Post

Independent benchmarking is quietly changing how venture capital is being evaluated in India. This is a healthy development With the release of the latest Preqin -Indian Venture and Alternate Capital Association (IVCA) Performance Benchmarks for Indian Alternative Investment Funds (March 2025), LPs and GPs now have another independent reference point for evaluating fund performance using a common methodology. At BlueGreen Ventures, we have always believed that performance is best discussed through transparent benchmarking rather than adjectives or narratives After all, the Indian VC ecosystem isnt in its infancy anymore. We are firmly in VC2.0. An era where independent data, benchmarking and transparency should increasingly replace anecdotes and marketing narratives So, just like we did with the previous edition, we have compared our attributable GP track record not only against the corresponding vintage, but also across Vintage -1 and Vintage +1. We feel that looking across adjacent vintages provides a better test of #repeatability than evaluating a single vintage in isolation. The comparison continues to place our attributable GP track record for Vintage 2018 within the top quartile of Indian venture funds. Performance for Vintage 2018 (INR) is summarised here : MOIC: 5.6x TVPI: 5.1x Gross IRR 59%, Net IRR: 49 % DPI: 94 % Thus, RVPI = 4.1x approx The benchmark covers over 700 AIFs For us, these numbers are an outcome, not the story. They are the outcome of a philosophy centred on identifying structural shifts early, backing exceptional founders solving enduring problems, underwriting with discipline and allowing time for compounding to do the heavy lifting. Equally important, they reflect the work of the founders who trusted us early, our LPs who backed our conviction, and the teams that helped build these businesses. We remain grateful for that partnership. As India's venture ecosystem matures, we hope independent benchmarking becomes standard practice. Consistent measurement raises the bar for all of us and ultimately serves the interests of founders, LPs and the broader venture ecosystem. If you'd like to discuss the benchmarking methodology, our investment philosophy or BlueGreen Ventures Fund I, we'd be delighted to connect. Rajeev Suri Anup Jain Tripti Kumari Vivek Vishwakarma Sarthak Singh Arun Kumar Mittal Harshita Tripathi Avika Kapur Khyati Singh Sophie Lambin 🪁