Physis Capital Crosses INR 200 Cr Funding To Back High-Impact Startups

Physis Capital, the growth-stage venture fund started by the founders of Inflection Point Ventures—Vinay Bansal, Ankur Mittal, and Mitesh Shah—has raised over ₹200 crore from top institutional investors and family offices like SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya. 

The fund is expected to reach its final close in the next 6 to 9 months.

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Physis Capital’s investor base features prominent names like SUD Life (a joint venture of Bank of India, Union Bank, and Japan’s Dai-ichi Life Holdings), Narayana Nethralaya, and family offices such as Haldiram’s and Lotus Holdings. These investors contribute not just capital but also valuable strategic insights and industry expertise.

Physis Capital plans to invest in 15–20 impactful, tech-focused startups from Pre-Series A to Series B stages. It will write initial cheques of $1–1.5 million and keep aside $1–4 million for follow-on investments in promising companies. So far, it has invested in three startups: Ben & Gaws, CTPL, and STAGE.

"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," said Vinay Bansal, General Partner, Physis Capital. "We are currently evaluating 8 deals and expect to issue term sheets for 3–4 of them in the coming months, with sectors spanning healthtech, fintech, consumer brands, and quick commerce."

"Our LPs add immense value beyond funding," added Ankur Mittal, General Partner. "Their operational depth and industry networks enhance our investment strategy and help scale our portfolio companies faster."

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