Hyderabad Angels has launched its debut venture capital fund; Inflection Point Ventures (IPV) exited 14 startups in 2023; and petcare startup Supertails has raised $15 million.
Hyderabad Angels launches debut VC fund
Angel investing platform Hyderabad Angels Fund has launched a Rs 100 crore ($12 million) Category 1 Alternative Investment Fund (AIF), which is its first venture capital vehicle. The vehicle has an additional greenshoe option to raise Rs 50 crore.
The fund, which will focus on technology and AI startups in the Pre-Series A and Series A stages, is planning to allot Rs 5 crore across 20 companies and has made its first close at Rs 50 crore.
Established in 2012, Hyderabad Angels invests in early-stage companies in India as well as overseas including the US, UK, Singapore, and UAE. The firm’s portfolio includes Betaout, Dialogue in the Dark, Epaathsala, Evibe, and Explara.
Inflection Point Ventures exits 14 startups
Angel investment platform Inflection Point Ventures (IPV) made 14 exits in 2023, including three full exits, and delivered a 61% internal rate of return (IRR) to its investors.
The firm made full exits from three startups—an undisclosed SaaS startup at an IRR of 217%, Koovers at an IRR of 47%, and Sportido at an IRR of 11%.
It also made partial exits from Oorjaa, Aerem, Devnagri, Ishitva, Kazam, Stage, Reloy, Mindler, Healthysure, Bored Beverages and Clensta, as per a release on Tuesday.
In 2023, the firm made strategic investments in 55 startups, largely across the healthcare, fintech, and SaaS sectors in India and is targeting at least 50 investments in 2024.
Petcare startup Supertails secures $15m
Tech-enabled petcare startup Supertails has raised $15 million in a Series B round led by RPSG Capital Ventures.
Existing investors including Fireside Ventures, Saama Capital, DSG Consumer Partners and Sauce VC participated in the funding, according to a release.
The company plans to use the new funding to enable business growth, and expansion of healthcare services including Supertails Pharmacy. Supertails also plans to use the funds to foray into offline business strategy and build an omnichannel experience for consumers.