Ivo Cipci took up swimming after World War II and quickly transitioned to water polo. He spent his entire domestic career, until his 1964 retirement, with VK Jadran and won national titles with them in 1954, 1957, and 1961. During much of this time, he was also a member of the Yugoslavian national team, and won silver with them at the 1956 Melbourne Olympics and the 1958 European Championships. He then won gold medals at the 1959 Summer Universiade and the Mediterranean Games, and was a non-playing alternate at the 1960 Rome Olympics.
Cipci eventually transitioned to the administrative side of the sport, joining the board of VK Jadran in 1970 and eventually becoming its president. He was also on the board of the Adriatic Sports Association and helped organize the European Aquatics Championships in Split in 1981.