Angel investment firm Inflection Point Ventures has announced a complete exit from automobile spare parts startup Koovers, with a 47 per cent internal rate of return (IRR).
The exit comes from Koovers’ acquisition by German automotive giant Schaeffler India for over ₹142 crore. Through this exit, IPV has achieved a 2.1-fold month-on-month return within 22 months of investing in the company.
“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,” said Mitesh Shah, co-founder of Inflection Point Ventures.
“We’re not just advisers; we’re connectors and active partners in every business decision. We work closely with the founders to actively influence outcomes by being fully engaged throughout the journey, as opposed to merely signing a cheque and playing a passive role,” he added.
Founded in 2016, Koovers is a B2B e-commerce platform that supplies auto parts to independent workshops and the aftermarket sector.
In 2023, the early-stage focused angel platform had 22 partial exits and 12 full exits to their investors. In 2022, IPV had 12 exits and gave its investors 160 per cent IRR to investors. In 2021, the firm IPV achieved 13 exits with 190% per cent IRR.
IPV has invested over ₹600 crore across more than 175 startups. It has a network of over 8,600 CXOs, high net-worth individuals and professionals as its investors.