Physis Capital, an investment fund focused on growth-stage companies, revealed that it had achieved the initial closing of its $50 million fund at $7 million. The fund aims to reach its ultimate closing by 2024.
By the third quarter of this year, the fund is anticipated to start making investments and assisting start-ups seeking to raise Pre-Series A to Series B funding, as per reported by Business Standard.
“We have seen investor interest remaining steady to startup investments in the Indian startup ecosystem. ‘Smart money’, i.e., experienced investors realize that downturn economic cycles are the best times to identify great businesses and invest in them,” said Ankur Mittal, partner at Physis Capital.
“Hence, we’ve received good interest in the past few months, especially from new investors who are backing the GPs and investing with us for the first time, looking at our track record,” Mittal said.
“While the majority of funds raised by Physis Capital so far are from Indian investors belonging to HNIs and family offices, we are now receiving significant interest from investors across multiple international locations including Singapore, USA, and UAE. Along with these international funds, we are in the process to raise funds from institutions and commence deployment,” said Mitesh Shah, partner at Physis Capital.
Vinay Bansal, the partner at Physis Capital, said, “Our biggest strength will continue to be the support we offer to our startups post-investment – helping them attract good talent, build partnerships, generate revenue opportunities, strong focus on cost management and compliance, and support future debt and equity funding rounds using the deep relationships built with different stakeholders in the startup ecosystem.”
About Physis Capital
Physis Capital is a $50 M fund, for investing in select Pre-Series A to Series B startups. While accelerators and incubators help early-stage start-ups, but Growth-Stage startups seldom get structural mentorship and support. Hence, only 2% of Indian startups are able to go beyond Series-B funding.