Gurugram-based Inflection Point Ventures, an early-stage investment group of 300 angels, has come forward to take Indian ideas global. Founded in 2017 by Sathya Pramod, Mitesh Shah, Ankur Mittal, Dipanjan Basu, Adarsh, Vinod Bansal, Sumeet Kapur, Ananya Tripathi, and Ashneer Grover, IPV has set up a Rs 20 crore fund to invest in 20 startups by the end of this financial year.
So far, Rs 19 crore has already been used by IPV to fund startups and open up their business to its members, who then use the platform and the common term sheet to take a stake in these startups.
Over the last 18 months, IPV has funded firms like Syook, Intugine, GeoIQ, Wishup, and Rene. It is now looking to invest in startups in the space of artificial intelligence, consumer tech, fintech, software-as-a-service (SaaS), and blockchain.
Sathya Pramod, Co-founder of Inflection Point Ventures, told YourStory,
"We had more than 200 applications last year and we have funded 19 startups.”
He added that the IPV core team is an amalgamation of people who come from different yet related backgrounds.
"We have among us former and current entrepreneurs of successful startups, people who held CXO positions in big corporations, partners at leading PE and VC firms, and those with backgrounds in consulting and banking. We are very demanding of each other as we understand the responsibility entrusted to us by our investors. While we have family offices and seasoned and experienced investors as our members, more than 120 members have made their first angel investment through our platform," Sathya said.
The Co-founder explained how IPV's investment decisions are driven by a commitment call, where the lead IPV member presents their due diligence on the startup to all the members on the platform.
"We developed a unique scorecard that we use to rate all our startups. The IPV team members invest in the startups through the platform on the basis of the recommendation of the founders,” he added. Some of the investors are the C-Suite leaders from Bookmyshow, Tally, and ex-Myntra.
The firm invests in startups that have a validated the idea and are generating revenues.
The IPV platform is open to all startups across the country and is not limited to particular chapters or cities, unlike other angel funds.
(Edited by Evelyn Ratnakumar)
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