Blume Ventures, an early-stage venture capital (VC) entity, has elevated Ashish Fafadia, a longtime leadership team member, to the position of partner.Blume invests in start-ups from seed fund to Series-A stages. It is currently in the midst of raising an $80-million (Rs 5.9 billion) third fund. Last month, Blume had also inducted Sajith Pai as director of research and analysis in Delhi. Further, it will establish a full-time office and team in Bengaluru, by early 2019 -- a sizable portion of its current portfolio is based there.