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Inflection Point Ventures aims to double its investment to $20 million in startups this year to boost the growth of India’s startup ecosystem.

“We invest heavily, not only financially, but also with mentorship, support, guidance in business experience to help startups succeed,” Company Founder CEO Vinay Bansal said.

Last year, IPV invested $10 million and is looking at about $20 million this year.

The firm is sector agnostic and therefore funds anybody who has strong management teams and founders running effective business. “If I were to only fund one industry, then I would not be able to fund too many. Therefore, the idea is to stay sector agnostic,” Bansal said.

IPV announced 30 deals in 2020, and it expects to announce close to 60 deals in the current year.

Till date, IPV has struck 55 deals with several companies including Milkbasket, Blusmart, Otipy by Crofarm, Truly Madly, Samosa Party and Multibhashi.

Last year, the company invested north of $10 million and is looking at about $20 million this year.

Bansal said during the Coronavirus pandemic, the firm doubled its investments in essentials delivery companies such as Milkbasket, Otipy and online direct-to-consumer brands.

“So, we identify a need and then we go back and find great startups and great founders in that area and fund them,” Bansal said.

Source …

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