India-based growth stage investor Physis Capital has reached the first close of its $50-million fund targeting to invest in pre-Series A to Series B startups.
Physis Capital, which has raised $7 million in the first close for the vehicle, is on track to hit the final close in 2024, according to a press statement.
The sector-agnostic fund is looking to build a portfolio of 15 to 20 startups with an average ticket size of $2.5 million. Physis Capital will also focus on a strong deal-sourcing and pipeline-building strategy.
“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,” said Mitesh Shah, partner, Physis Capital.
Physis Capital partner Vinay Bansal 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.”
Early-stage investment platform Inflection Point Ventures (IPV) launched Physis Capital last year.
The angel platform plans to actively invest in sectors like vertical commerce, consumer tech, social media, content creation, B2B SaaS, and enterprise tech. Up to 50% of the fund size is to be deployed in backing proven winners from its Inflection Point Ventures portfolio.
