SUMMARY
- Inflection Point Ventures declared that it had achieved a complete exit from its investment in women’s fashion and apparel brand FASHOR.
- It follows the announcement by FASHOR that it had secured a funding of $5 million (INR 41.9 crore) from Blume Ventures.
- The angel investment network asserted that it had generated a 33% IRR and realized 3.75X MoM within 54 months of its investment.
In the aftermath of the announcement by the women’s fashion and apparel brand FASHOR that it had secured a funding of $5 million (INR 41.9 crore) from Blume Ventures in a combination of primary and secondary transactions; its initial investor, Inflection Point Ventures (IPV), declared that it had achieved a complete exit from its investment in the startup.
In a formal statement, the angel investment network asserted that it had generated a 33% internal rate of return (IRR) from its investment and realized 3.75 times money over money (MoM) within a span of 54 months following its investment in the company.
However, IPV did not disclose the specific financial details of the exit.
Furthermore, IPV highlighted its collaborative efforts with FASHOR in refining strategies, shaping the business model, and developing a robust fundraising and exit strategy.
“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,” the co-founder of the angel network, Mitesh Shah, stated.
In light of this, the investment platform claims to have successfully exited 45 startups, achieving an average internal rate of return (IRR) of 128%. The platform exited 12 startups in 2022 and 14 in 2023. It also exited from the automobile spare parts platform, Koovers, achieving a 47% internal rate of return (IRR).
IPV has supported 24 startups in the first half of the year, including notable companies like Machaxi, REGRIP, Palette Brands, and Glamplus.
FASHOR CEO Vikram Kankaria stated that the company’s partnership with Inflection Point Ventures has been pivotal in its journey towards growth and success. He added that their strategic counsel and support have been instrumental in its rapid expansion and achievement of significant milestones.
Founded in 2018 by Vinay Bansal, Ankur Mittal, Mitesh Shah, and Vinod Bansal, the firm assists startups in connecting with over 18,000 angel investors. It has supported startups such as Clensta, Siply, Loankuber, Kazam, Qubehealth, among others. IPV has also been involved in over 210 deals, garnering support from more than 11,000 investors, including CEOs, high net worth individuals, and professionals.
In January 2024, IPV announced the launch of a sector-agnostic accelerator aimed at supporting entrepreneurs at the idea stage.
