Physis Capital Secures Over INR 200 Crore in Funding Marking Major Milestone

Physis Capital, the growth-stage venture fund established by Vinay Bansal, Ankur Mittal and Mitesh Shah, the team behind Inflection Point Ventures, have announced reaching a milestone in the fundraising journey. The fund has raised more than Rs. 200 Crore funding to date, with the remaining capital expected to be secured over the next 6 to 9 months.

Following its first close, Physis Capital has been actively raising the corpus from family offices, HNIs, and institutional investors. The fund has seen participation from marquee backers, including SUD Life - a joint venture between Bank of India, Union Bank of India, and Japan’s Dai-ichi Life Holdings (managing over INR 31,000 crore in AUM). Other investors include Narayana Nethralaya, a NABH-accredited eye care institution in Bangalore, and family offices like Haldiram’s and Lotus Holdings. Focused on high-impact, tech-driven startups from Pre-Series A to Series B, Physis aims to back founders solving real-world problems through innovation, with the potential to scale sustainably and win big.

Physis, Mr. Vinay Bansal, General Partner, Physis Capital, says, “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 - partnering with bold, ambitious teams to drive long-term, sustainable growth. We are on track to build a portfolio of more than 15 companies by the first half of next year. At present, they have 8 deals in the pipeline and are confident about issuing term sheets for 3 to 4 of them in the coming months. These investments are expected to close within the next 2 quarters. The pipeline spans diverse sectors, including healthtech, fintech, consumer brands, and quick service commerce.”

Physis Capital is powered by a global network of experienced CXOs, senior advisors, and operators across more than 10 countries. “Our LPs bring more than just capital — they bring unmatched strategic insights and deep industry expertise that help us make sharper, more impactful investment decisions. Their active, hands-on involvement adds substantial value, propelling our portfolio companies as they scale across diverse markets and sectors,” says Ankur Mittal, General Partner, Physis Capital.2