Angel investing platform Inflection Point Ventures (IPV) has generated strong returns after full exiting from a three-year-old bet in a US-based cloud security services provider.
The venture capital firm has fully exited from Parablu Inc, bagging 2.2 times money-over-money, IPV said in a statement on Friday.
IPV claimed that it has delivered over 30% internal rate of return (IRR) for investors, higher than the 20% benchmark most firms look at a fund level.
In October, CrashPlan, a provider of data backup against adverse events, acquired Parablu for an undisclosed sum.
IPV first came into the picture when it invested $1 million in Parablu, banking on the potential of its data management software as a service (SaaS) platform. At the time, Parablu, which also has an office in Bengaluru, had plans to expand its distribution platform and penetrate into North American market.
“This (IPV’s investment) enabled the company to scale rapidly and establish itself as a strong player in the enterprise data management space," said Ankur Mittal, co-founder, Inflection Point Ventures.
The latest exit comes more than six months after IPV claimed in August that it generated 33% IRR and 3.75X MoM after completely exiting from its five-year old bet on omnichannel retail firm Fashor.
The firm, which as founded by Vinay Bansal along with Ankur Mittal and Mitesh Shah, claims to have made 47 exits in 2024.
IPV is currently in the process of raising capial for its maiden VC fund Physis Capital, after it pushed the timeline of the final close of the $50 million vehicle by more than a year to 2026.
The fund was launched in 2022 and marked its first close a year later. So far, it has accrued Rs 150 crore from its limited partners.