IPV to invest Rs 150-200 crore in startups this year; exits 14 firms with 61% return

Angel investment platform Inflection Point Ventures is planning to make fresh investments in the range of Rs 150-200 crore in startups this year, a senior company official said.

The company announced partial and full exit from 14 firms with an average 61 per cent internal rate of return in 2023.

"We have made a total investment of around Rs 750 crore till date out of Rs 1,200 crore fund. This year, we will be investing in the range of Rs 150-200 crore," IPV founder and CEO Vinay Bansal told PTI.

He said the company has made 56 investments in 2023, comprising 46 new investments and around 10 follow-on investments.

"We had 14 exits. One of the exits was that of 40 times multiple, and overall average IRR was 61 per cent," Bansal said.The company has a portfolio of about 200 companies.IPV fully exited three startups in 2023 -- Koovers, Sportido and a media startup.

The company made the highest return of over 200 per cent from a full exit in the media venture. 

"We continue to stay invested in 175 entities," Bansal said.The company made a partial exit from logistics startup Oorja, fintech firm Aerem, SaaS firms Devnagri and Ishitva, clean tech startup Kazam, edutech Mindler, D2C firms Bored Beverages and Clensta, and property tech firm Reloy, among others.

"We will continue to invest behind great founders running good businesses available at a reasonable valuation. India has a huge potential not just for 1-2 years but for the next 1-2 decades."

"We are hopeful that 2024 will be better than 2023," Bansal said. He said that the company is seeing potential in drone, sports, health and fintech firms for investments.