Inflection Point Ventures (IPV), which is a collective of over 6,600 angel investors/HNIs and family offices, and is among the largest domestic angel investment platforms for startups, has returned 190 per cent IRR (internal rate of returns) in 2021 on the 13 exits it made in the year and is planning to exit over 10 more this year.
The New Delhi-based IPV, founded in 2018 by Vinay Bansal, Ankur Mittal and Mitesh Shah, 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 USD 50 million (around Rs 380 crore) along with a green-shoe option of USD 25 million (around Rs
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190 crore), Ankur Mittal, cofounder and chief operating officer, told PTI from Delhi on Thursday.
Mittal quickly 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 per cent, 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.
Vinay Bansal, co-founder and chief executive, said among the 13 exits, we have a unicorn exit (Bharatpe) which emerged as a multi-bagger for our investors.
Bharatpe emerged as a multibagger giving over 80x returns to IPV having sold its stake to Bharatpe’s returning investor Coatue Management when it led a USD 108 million series D round last year.
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.
