Inflection Point Ventures (IPV), angel investment platforms started in 2018 by a group of finance and investment banking professionals, has announced 13 exits giving an internal rate of returns (IRR) of 190 percent to its investors.
Launched by Vinay Bansal, Ankur Mittal and Mitesh Shah, IPV has announced multiple exits from its 110+ start-up portfolio giving a return of over 8X to its investor members on an average. It has invested Rs 215 crore in 51 startups in 2021. The angel platform has partially and fully exited 13 startups last year.
Vinay Bansal, Founder CEO, IPV, said, “This could not have been possible without a sharp due diligence process which is our USP and focused engagement with our startup founders post investment. Among the 13 exits, we have a Unicorn exit which emerged as a multi-bagger for our investors.”
BharatPe emerged as a multibagger giving over 80X returns to IPV which it exited to BharatPe’s returning investor Coatue Management who led the $108 million Series D round in the fintech unicorn last year. IPV first invested in BharatPe in 2018 and has completed a full exit.
The New Delhi-based IPV, founded in 2018 has already made three partial exits till March and remains invested in close to 100 startups worth Rs 356 crore, and will add at least 50 more investee companies this fiscal.
IPV has two funds—a Category 1 angel fund of Rs 500 crore, of which it has already closed Rs 300 crore and has invested Rs 100 crore of it, and a Category 2 venture capital fund with a planned corpus of $50 million (around Rs 380 crore) along with a green-shoe option of $25 million (around Rs 190 crore), Ankur Mittal, Co-Founder and chief operating officer, told PTI from Delhi on Thursday.
Mittal added that the second fund is yet to be launched as it is awaiting markets watchdog Sebi's approval, having applied for it last October and expects to get the nod shortly.
Mittal said its investment in payment platform Bharatpe made in 2018 has given the highest return of 552 percent, having fully sold its stake in the company to Coatue Management.
He said had all its investors invested in all the 13 deals then the average return would have been 4x their invested capital. Since its founding four years ago, PIV has invested in 110 startups worth Rs 356 crore and remains invested close to 100 now though in Q1 of 2022 it has made three partial exits.
“We are planning to fully exit at least 10 more this year and plans to make over 50 more investments,'' Mittal said, adding its typical investment ticket size varies from Rs 1-15 crore.
In 2021, IPV invested Rs 215 crore in 51 startups, he said, adding its total investment so far stands at Rs 356 crore across 110 startups.
IPV sold its stake in a few unicorns to large investors such as Coatue Management (Bharatpe, full), Kalaari Capital (Phable, partial exit, and Samosa Party full exit), Barings (Toch, partial), Emphasis Ventures (Card91, full), Zomato (Fisto, full), and Dream11 to Sostronk, which is a full exit.
Its other exits (both partial and full) include Glamplus, QubeHealth, Truly Madly, Samosa Party, Hobspace, Pedagogy, and Lebencare, giving 2x average returns to the investors. Phable has raised USD 25 million in the series B round.
Mittal said the number of IPV investors who include entrepreneurs, HNIs, UHNIs, family offices among other rich, has risen to over 6,600 so far and is adding over 100 per month.
Mittal said over the past three years, angel investment has emerged as a strong asset class for not just the wealthy but for anyone with a disposable income looking for good returns while keeping a balanced view on the risk-reward ratio.
