Inflection Point Ventures, one of the most active angel platforms with over Rs 600 crore invested across 175+ startups, has fully exited from Koovers with a 47% IRR. IPV has achieved 2.1X MoM from this exit within 22 months of investing in the company.
The exit comes at the back of Koovers' acquisition by German automotive giant Schaeffler India for over Rs 142 crore.
Koovers, a B2B e-commerce platform, streamlines genuine auto part supply to independent workshops and the aftermarket.
Commenting on the exit, Mitesh Shah, Co-Founder, Inflection Point Ventures, says, “At IPV, we're dedicated to working closely with founders to create lasting value. With Koovers, we went beyond the business aspect to enhance their overall market perception in a rapidly evolving sector."
The collaboration was designed to go beyond traditional investment relationships. IPV worked closely with Koovers to refine their strategies, shape their business model, and craft a strong fundraising and exit plan.
Sandeep Begur, CEO, Koovers, says, “IPV was a pillar for us during our fund raise and M&A stage - with Mitesh playing a pivotal role in the whole process.”
As of 2023, IPV has achieved remarkable milestones. The early stage focused angel platform has delivered 22 partial exits and 12 full exits to their investors with promising returns so far. In 2022, IPV continued its trend of success with 12 exits, delivering a commendable 160% IRR to investors. This followed an exceptional 2021, during which IPV achieved 13 exits with a remarkable 190% IRR, solidifying its commitment to generating substantial returns and fostering the growth of promising startups.