Inflection Point Ventures announces full exit from Koovers at 47% IRR

Founded in 2016, Koovers is a B2B e-commerce platform specializing in supplying auto parts to independent workshops and the aftermarket sector

Inflection Point Ventures (IPV), an angel investment platform, on Friday announced a full exit from automobile spare parts startup Koovers, with a 47 per cent internal rate of return (IRR).

The exit comes on the back of Koovers' acquisition by German automotive giant Schaeffler India for over Rs 142 crore. Through the 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 specialising in supplying auto parts to independent workshops and the aftermarket sector.

“IPV was a pillar for us during our fund-raising and M&A stage, with Mitesh playing a pivotal role in the whole process,” said Sandeep Begur, chief executive officer of Koovers.

To date, IPV has invested over Rs 600 crore across more than 175 startups. It has a network of over 8600 CXOs, high net-worth individuals and professionals as its investors.

The early-stage focused angel platform has delivered 22 partial exits and 12 full exits to their investors with promising returns so far this year. In 2022, IPV gave its investors 12 exits, delivering a commendable 160 per cent IRR. This followed 2021, during which IPV achieved 13 exits with a remarkable 190 per cent IRR.