Venture capital firm Inflection Point Ventures, which has invested over Rs 720 crore across more than 200 startups, on Thursday, claimed to have scored impressive returns with its full exit from Fashor, a contemporary ethnic wear brand.
Inflection Point Ventures, or IPV, which invested in the omnichannel retail company nearly four-and-half years ago, has claimed to have achieved an IRR (internal rate of return) of 33%, along with a money over money (MoM) multiple of 3.75x.
“Our exit strategy, which is backed by data, collected over years of investing in Indian startups, continues to prove beneficial for our investors. As one of the largest angel platforms in India, it is our primary duty to not just find innovative startups to invest in but also look out for the right time to exit,” said Mitesh Shah, co-founder of Inflection Point Ventures.
The exit comes after Fashor raised $5 million from Blume Ventures to expand its omnichannel presence, build branding and strengthen its supply chain.
“Our partnership with Inflection Point Ventures has been instrumental in driving our growth and success. Their strategic guidance and support have enabled us to scale and achieve milestones," said Vikram Kankaria, chief executive officer of Fashor.
IPV claimed that in 2022, it made 12 successful exits, achieving an impressive 160% IRR. Building on this momentum, IPV continued to perform strongly in 2023, completing 14 exits with a 61% IRR despite the challenging funding winter, the firm said in a release. It also claimed that to date, IPV has made 45 exits with an average IRR of 128%.
IPV was founded by Vinay Bansal along with Ankur Mittal and Mitesh Shah. In 2023, the company evaluated over 7,000 startups and participated in 56 deals, including ten up rounds. In 2022, IPV launched the $50 million venture capital fund under Physis Capital, targeting pre-Series A to Series B investments in startups.
