Physis Capital

Pranav Parikh and Sandeep Singhal serve as Managing Partners. Both spent over a decade at WestBridge Capital, where they collectively led investments in more than 70 Indian technology companies. All investment committee decisions are made by the two co-founders, maintaining a flat decision-making structure consistent with their concentrated portfolio model.

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.

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.

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.

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.