– Physis Capital has welcomed prominent institutional and family office investors, including SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya, to its growing LP base.
– The fund is on track to reach its final close within the next 6 to 9 months.
– Investment focus remains on high-impact, tech-enabled startups across Pre-Series A to Series B stages.
– Physis plans to curate a portfolio of 15 to 20 select ventures, each backed for long-term scalability.
– Initial investments will range between $1M–1.5M, with follow-on cheques of $1–4M for standout performers in the portfolio.
– To date, Physis Capital has backed three companies: Ben & Gaws, CTPL, and STAGE.
Delhi, 18 June 2025 – Physis Capital, the growth-stage venture fund founded by industry veterans Vinay Bansal, Ankur Mittal, and Mitesh Shah, has crossed a major fundraising milestone, securing over ₹200 crore to date. The fund expects to complete its final close within the next 6–9 months, further reinforcing its mission to back tech-led, impact-driven startups from Pre-Series A to Series B.
Backed by the powerhouse team behind Inflection Point Ventures, Physis Capital has attracted significant interest from family offices, HNIs, and institutional investors. Notable contributors include SUD Life (a joint venture of Bank of India, Union Bank of India, and Japan’s Dai-ichi Life Holdings), Narayana Nethralaya, and marquee family offices such as Haldiram’s and Lotus Holdings.
Vinay Bansal, General Partner, remarked:
“With strong investor confidence and a founder-first approach, we are on track to build a portfolio of 15+ companies by mid-2026. We currently have 8 promising deals in the pipeline and plan to issue term sheets for 3–4 of them soon, across sectors including healthtech, fintech, consumer brands, and quick commerce.”
Physis Capital is supported by a global network of CXOs, advisors, and operators across 10+ countries, bringing strategic depth to its decision-making.
Ankur Mittal, General Partner, added:
“Our LPs bring far more than capital—they bring global insights and on-ground sectoral know-how, accelerating value creation for our portfolio founders.”
Built by Founders, for Founders
Physis Capital is led by a deeply experienced team:
- Vinay Bansal (24+ years): Known for leading turnarounds at Vishal Mega Mart and Healthium, and scaling brands like Wildcraft and Milkbasket. He spearheads investments across consumer tech, retail, health-tech, sports, and more.
- Ankur Mittal (22+ years): Formerly with Credit Suisse and Citigroup in global M&A, and founder of Training the Street India. He leads investments in fintech, SaaS, deep-tech, and enterprise tech.
- Mitesh Shah (22+ years): Former CFO at Ola and BookMyShow, Sequoia scout, and a top-100 investor on Fortune India’s list. He drives investments in mobility, climate-tech, fintech, and consumer platforms.
Physis recently made its third investment in STAGE, a regional OTT platform delivering content in Indian dialects like Haryanvi, Rajasthani, and Bhojpuri—cementing its commitment to underserved markets and cultural diversity.
As it prepares for its final close, Physis Capital aims to invest in 15–20 startups that blend scale, sustainability, and sectoral innovation—redefining venture capital through operational depth and founder empathy.
