# Physis Capital

Physis Capital is an Asset Manager based in Mumbai, India.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** Mumbai, India
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** physiscapital.com
- **LinkedIn:** https://www.linkedin.com/company/physis-capital

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Enterprise Software
- FinTech
- Digital Health
- Media & Entertainment

## People

- Vinay Bansal
- Ankur Mittal — Partner
- Mitesh Shah

## 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.

## Related profiles

- [Physician Advising](https://altss.com/profile/physician-advising-llc)
- [Pieces Technologies](https://altss.com/profile/pieces-technologies)

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Last updated: 2026-08-11T15:07:49.000Z

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