Physis Capital, a growth-stage venture fund started by Vinay Bansal, Ankur Mittal, and Mitesh Shah from Inflection Point Ventures, has raised over INR 200 crore (about $23 million) so far as part of its current fundraising efforts.
The company says it plans to finish raising money in the next 6 to 9 months.
Physis Capital focuses on tech startups that are between Pre-Series A and Series B funding stages. They want to invest in about 15 to 20 companies. They usually start with $1 to $1.5 million and may invest an additional $1 to $4 million in companies that do really well.
Physis Capital has already invested in three startups: Ben & Gaws, CTPL, and STAGE. They also have 8 more potential deals and expect to finalize 3 to 4 of them in the next six months.
The fund has attracted investments from well-known institutions and family offices.
These include SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya.
“With strong support from marquee investors and a clear focus on founder-first investing, Physis Capital is well-positioned to back the next wave of high-impact startups in India. We are on track to build a portfolio of over 15 companies by the first half of next year,” said Vinay Bansal, General Partner of Physis Capital.
In March 2022, Inflection Point Ventures (IPV), an angel investment platform, launched a new fund called Physis Capital with $50 million, with an option to raise an extra $25 million.
Then, in May 2023, Physis Capital announced the first close of its second $50 million fund (CAT II).
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