Inflection Point Ventures has exited its stake in automotive parts provider Koovers, while Seeds Fincap has raised $6 million in its Series A1 round from Lok Capital.
Inflection Point Ventures exits Koovers at 47% IRR
Inflection Point Ventures on Friday said it has exited its stake in KoMovers at a 47% internal return rate.
With over Rs 600 crore invested across 175+ startups, Inflection Point Ventures achieved 2.1X month on month from Koover’s exit within 22 months of investing in the company.
The exit comes on the back of Koovers’ acquisition by German automotive giant Schaeffler India for over Rs 142 crore, Inflection Point Ventures said.
Seeds Fincap snags $6m from Lok Capital
Seeds Fincap, an MSME-focused financial institution, on Friday said it has raised $6 million (Rs 50 crore) in its Series A1 round from Lok Capital, of which the first tranche of Rs 32 crore has been closed.
The investment will be used as growth capital by the company to accelerate expansion in existing and new geographies in the upcoming fiscal year.
Founded by Subhash Acharya and Avishek Sarkar in 2021, Seeds Fincap has Rs 212 crore in assets under management.
