In this month's Decoding Exits series, @BKartRed (Karthik) breaks down the secondary market activity from January & February. This time, it's a Blume special with three portfolio companies leading the action. Here are the highlights: 🔐 @getidfyed (Fund I vintage) raised ₹475 Cr in a round where the secondary component (₹250+ Cr) actually exceeded the primary, with Neo Asset Management coming in as the big buyer and TransUnion exiting with a handsome return. 🚗 @myspinny (Fund II) pulled off another $150M+ round at a premium after last year's $170M raise, with Fidelity entering as a new investor while Accel and WestBridge Capital doubled down. This follows the http:/GoMechanic.in and Autocar India acquisitions as Spinny continues to build a full-stack auto platform. 📈 @RaiseTheBarHQ (AKA Dhan - Blume Founders Fund) — One of India's fastest growing profitable unicorns, Dhan went from a $3M seed to a $1.2B valuation while barely raising any venture capital along the way. The round saw $120M+ in primary demand, with early backers like Hornbill, MUFG, BEENEXT, and 3one4 taking 65%+ compounded returns on partial exits. Watch the full video here: youtu.be/nqBD7S3tdcw @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05