Inflection Point Ventures (IPV), one of India’s largest angel investment platforms, has launched the ‘IPV International, a $110 million Category I Angel Fund registered under GIFT City’s IFSCA (International Financial Services Centres Authority) framework.
The first close of the fund happened in April 2025. The fund opens broader investor participation and has successfully made the first investment in Singapore based promising deeptech company Cellivate Technologies which is working on replacing fetal bovine serum with a patented, ethical, and scalable cell-based alternative using magnetic stimulation, targeting biotech, pharma, and beyond.
IPV International will lead or participate in early-stage to pre-Series A rounds, building a diversified portfolio, with average ticket sizes ranging from USD 100K to USD 1 million. The fund has secured both the Fund Registration Certificate and the Fund Management Entity FME) license from IFSCA, enabling it to operate fully within GIFT City’s regulatory framework.
Vinay Bansal, Founder CEO, IPV, says, “After establishing a strong presence in the Indian startup ecosystem, IPV is now extending its offerings through IPV International. Given the evolving global startup landscape and the rising appetite for international exposure, launching an international fund allows us to seamlessly participate in cross-border investment opportunities. By leveraging GIFT City’s global access framework, we can now invest in high-potential international businesses. A presence in GIFT City enables us to scale beyond national borders, engage with global startup ecosystems, and remain aligned with the rapidly shifting dynamics of the venture capital and private equity markets. At the same time, we are seeing strong interest not just from Indians & NRIs, but also from non-Indian investors eager to invest in the booming Indian startup ecosystem and the GIFT City structure makes it significantly easier for them to invest.”
Ankur Mittal Co- Founder, IPV, says, “IPV International is designed to replicate our proven, sector-agnostic investment strategy. Our investment thesis remains rooted in rigorous due diligence and structured evaluation, aligned with the approach that has shaped IPV’s strong track record. The launch of this fund significantly expands our horizon. This strategic move enables us to consider high-potential foreign startups alongside domestic opportunities. By leveraging the global access provided by the GIFT City platform, we’re now well-positioned to invest in innovative ventures across international markets, enhancing both portfolio diversification and investor value.”
The fund operates under the International Financial Services Centres Authority (IFSCA), which serves as a SEBI-equivalent unified regulator. IFSCA offers a clear, flexible, and innovation-friendly framework, drawing interest from funds, startups, and global asset managers alike.
IPV International offers a highly investor-friendly environment, driven by a liberalized tax regime and simplified compliance. Residents, non-residents, foreign nationals – all can invest with minimal regulatory friction—no requirement for PAN or Indian tax filings, provided their only source of income in India stems from GIFT City-based investments
Mitesh Shah, Co-founder, IPV, says, “IPV has been on an impressive journey over the past six years. We’ve backed Unicorns, Soonicorns, and high-growth startups that are driving meaningful change across the country. With a proven track record including 50 successful exits from a portfolio of over 220 startups, IPV is now set to leverage this experience and scale its platform to reach both national and international investors through IPV International. Combined with the tax efficiency and regulatory clarity offered by the GIFT City framework, the fund is well-positioned to attract a global investor base, including both domestic and international participants.”
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