IAN Fund has made exits from some of its investments. With only a partial divestment from Woodenstreet, the company has provided IAN a return of more than 10 times with an IRR of 105 per cent. Moreover, the fund has also made a partial divestment from Zypp, which provided a 6.5 times return with an IRR of 88 per cent, the firm said in a statement.
Lokendra Ranawat, Chief Executive Officer (CEO) of Woodenstreet, said, “We are deeply grateful to IAN for their endless guidance, especially as we leveraged technology to scale and focus on customer satisfaction. We intend to open 300 stores in the next two years and are thrilled to introduce our exclusive furnishing line, ‘Earthy Threads’.”
Akash Gupta, Co-founder and CEO of Zypp Electric, said, “Startups are here to return value to investors and this was a small milestone well achieved. IAN Fund has been providing continued support right from the time when they invested in Zypp just before Covid-19. We continue to believe and work closely with the IAN team as we scale Zypp to newer heights. The Mission Zero Emission has just started with 16k EVs, and we plan to grow this to a 200k+ EV fleet over the next 3 years to electrify last mile delivery across India and beyond.”
Padmaja Ruparel, Co-founder of IAN and Founding Partner of IAN Fund I, said, “These are exciting companies that have exhibited impressive growth but are poised to scale even faster and have yet to realize their full potential. IAN Fund 1, therefore, remains majorly invested in them and hopes to give even better returns to its investors.”
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