IPV launches $110M global angel fund under GIFT City framework
IPV International completed the first close in April 2025 and has already made its debut investment in Singapore-based deeptech startup Cellivate Technologies.
Angel investment network Inflection Point Ventures (IPV) on Thursday launched IPV International, a $110 million Category I Angel Fund, registered under the International Financial Services Centres Authority (IFSCA) at GIFT City, Gujarat. It has received the Fund Registration Certificate and the Fund Management Entity (FME) license.
IPV International completed the first close in April 2025 and has already made its debut investment in Singapore-based deeptech startup Cellivate Technologies, which is developing a patented, ethical alternative to fetal bovine serum using magnetic stimulation, targeting applications in biotechnology and pharmaceuticals.
The sector-agnostic fund will invest in early-stage to pre-Series A startups from across sectors, with ticket sizes ranging from $100,000 to $1 million.
Vinay Bansal, Founder and CEO of IPV, said, "A presence in GIFT City enables us to scale beyond national borders, engage with global startup ecosystems, and remain aligned with the rapidly shifting dynamics of the venture capital and private equity markets."
"At the same time, we are seeing strong interest not just from Indians and NRIs, but also from non-Indian investors eager to invest in the booming Indian startup ecosystem, and the GIFT City structure makes it significantly easier for them to invest,” he added.
Global and Indian participants, including NRIs, OCIs, and foreign nationals, investing through GIFT City are exempt from Indian tax filings, as long as their Indian-sourced income is limited to these investments. Meanwhile, resident Indian investors benefit from a simplified structure, bypassing complex approvals usually required under the ODI or SEBI regulations.
Ankur Mittal, Co-founder of IPV, said, "This strategic move enables us to consider high-potential foreign startups alongside domestic opportunities. By leveraging the global access provided by the GIFT City platform, we’re now well-positioned to invest in innovative ventures across international markets, enhancing both portfolio diversification and investor value."
Besides IPV International, IPV also manages Physis Capital, a $50 million Category II Venture Capital fund, which supports pre-Series A to Series B startups. The fund has backed six startups, with several more in the pipeline.
Edited by Suman Singh