Gurugram-based Inflection Point Ventures (IPV) has launched a new $110 million angel fund called IPV International. It’s a Category I fund set up under GIFT City’s IFSCA framework, and it made its first close in April 2025.
The fund’s first investment was in Cellivate Technologies, a deeptech startup based in Singapore.
Cellivate is working on a patented, scalable, and ethical alternative to fetal bovine serum using magnetic stimulation, with potential uses in the biotech and pharmaceutical industries.
IPV International plans to invest in early-stage to pre-Series A startups, with investment amounts ranging from $100,000 to $1 million. The goal is to build a well-diversified portfolio.
The fund has received its registration certificate and Fund Management Entity (FME) license from IFSCA, allowing it to operate fully under GIFT City’s regulatory framework.
“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,” said Vinay Bansal, CEO of IPV.
Mitesh Shah, co-founder, added that the fund will likely appeal to both Indian and global LPs. “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,” Shah said.
IPV International operates under IFSCA, India’s unified financial regulator similar to SEBI. This gives the fund access to a flexible and innovation-friendly framework that attracts startups, investors, and global asset managers.
The company points to GIFT City’s relaxed tax policies and easy compliance rules as major advantages, helping create a supportive environment for cross-border investments.
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