New Delhi: Angel investment platform Inflection Point Ventures (IPV) is looking to invest in up to a dozen startups this quarter, closing the calendar year with fund infusion in over 50 start up ventures, according to its co-founder Ankur Mittal.
The platform- which is an angel network supported by over 5,000 CXOS (or C-suite business executives), high net- worth individuals and professionals keen to invest in start- ups-has already infused over Rs 290 crore, and has readily available additional pool of over Rs. 100 crore for deployment based on requirements and la IG market opportunities.
“In the last 12 months, we would have invested in 50-55 startups, Mittal said.
In 2021, until October, IPV has already invested in 38 companies and expects to invest in another 10-12 start-ups in December quarter The firm, which began operations in 2018, supports new-age entrepreneurs by providing them monetary and experiential capital and connecting them with a diverse group of investors.
Overall, 3-year-old IPV said it has invested in 98 startups till date, including well-known names such as Toch, BluSmart, Otipy, Phable and Uable.
“Out of 98 startups IPV in- vested in, we had 1 unicorn exit, 7 additional exits and 4 partial exits, and only one has failed. We will have around 5-6 more exits soon,” Mittal said. The exits mostly happen when PES and VC funds come in as next-stage investors into these ventures.
Biofuel marketplace Buyofu- el recently raised over Rs 1.6 crore in a seed round led by IPV It said funds raised will be utilised in expediting the marketing activities, working more on technology and signing new partnerships for business development. Last month, Ahmedabad based robotic startup,Ishitva, raised a pre-series A round of over $1 million led by IPV, and the funds raised will be utilised in growing sales and expanding the research and de velopment team.
The vast network of CXOS in IPV fold means translation of their expertise into in-depth and extensive upfront due dili gence of ventures “chipping away the reasons of failure”.
“We understand the industry in and out. So say, there is an Al ML (artificial intelligence/ma chine learning) or a blockchain company, we have people who are experts in this area, who can belp us evaluate startups, under stand business models and take decisions,” Mittal sud.
Post-investment support over and above provision of capital to startups, us also a big area of focus for this angel investment platform.- PTI