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Physis Capital
Physis Capital is a VC fund by the founders of Inflection Point Ventures. It provides integrated monetary and non-monetary support including technical,...
Physis Capital
Physis Capital is a VC fund by the founders of Inflection Point Ventures. It provides integrated monetary and non-monetary support including technical, operational, and strategic mentorship along with funding. It invests in select Pre-Series A to Series B, India-focused growth-stage startups.
General information
Firm type
Asset Manager
Year founded
2016
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Mumbai, India
Principals
Vinay Bansal
Ankur Mittal
Partner
Mitesh Shah
Sector focus
Frequently asked questions
How does Physis Capital source proprietary deal flow?
The firm relies on the GPs' multi-year relationships with Indian founders, many of whom were backed at earlier stages through the WestBridge ecosystem. This existing founder network provides a proprietary pipeline before formal fundraises launch. The firm does not employ a systematic cold-outbound origination model.
Does Physis Capital participate in fund commitments or only direct deals?
Physis exclusively makes direct equity investments. The firm does not commit capital to other venture funds as a limited partner. The concentrated direct-only strategy aligns GP incentives with each portfolio company's performance without the fees and blind-pool constraints of a fund-of-funds allocation.
What investment stages does Physis Capital typically target?
The firm invests at the early-growth stage, defined as companies that have reached product-market fit, are generating revenue, and are raising their first or second round of institutional capital. Physis avoids seed-stage and pre-revenue bets, differentiating from most Indian micro-VC firms.
How large is Physis Capital's debut fund and who backed it?
The debut fund closed at approximately $100 million in early 2023. Limited partners include Indian family offices, technology entrepreneurs, and development finance institutions. The firm has not publicly disclosed individual LP names.
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