Physis Capital: 10 Key Things You Must Know

Overview

Physis Capital, founded in 2022, is a venture capital firm known for its focus on nurturing high-growth potential startups in India and beyond. Formed by the enterprising team of Vinay Bansal, Ankur Mittal, and Mitesh Shah—well-recognized figures from Inflection Point Ventures—the firm has positioned itself as a beacon for founder-first investing. In 2025, Physis Capital hit a significant milestone by raising over INR 200 crore for its maiden fund, setting the stage for a dynamic journey into backing transformative startups. In this article, we delve into ten compelling facets about Physis Capital that shed light on its strategic approach to venture investing.

1. Ambitious Inception

Launched by seasoned veterans with deep roots in venture capital, Physis Capital embarked on its journey in 2022. The fund was envisioned to provide substantial structural support and mentorship, often lacking for growth-stage startups in India. This approach set Physis apart as a nurturing environment for companies ready to make impactful advancements.

2. Significant Fundraising

As of June 2025, Physis Capital has successfully raised more than INR 200 crore against its target corpus of INR 400 crore. This fundraising success underscores robust confidence from institutional investors and family offices like SUD Life and Lotus Holdings, propelling them toward realizing their investment goals.

3. Focused Investment Strategy

Physis Capital targets Pre-Series A to Series B startups, employing a strategic and highly selective investment process. With a portfolio vision of 15-20 companies, Physis prioritizes startups showing high impact potential, particularly in tech-driven sectors such as healthtech, fintech, and consumer brands.

4. Investment Philosophy

The firm adheres to a "founder-first" investing philosophy. This means Physis supports ambitious and innovative founders, aligning long-term growth plans with sustainable operations. This principle has been a key attraction for its notable investor pool who value strategic insights beyond mere capital.

5. Noteworthy Portfolio

Physis Capital's portfolio includes startups like Ben & Gaws, CTPL, and STAGE, each demonstrating impressive growth trajectories. STAGE, for instance, is a hyperlocal OTT platform providing content in regional Indian languages which expands cultural footprints exponentially.

6. Leadership Expertise

Vinay Bansal, Ankur Mittal, and Mitesh Shah bring together decades of expertise across various domains, including retail, consumer branding, financial services, and operational scalability. Their complementary skills amplify Physis Capital's strategic initiatives and investment prowess.

7. Diverse Investment Scope

Physis invests across multiple sectors such as enterprise tech, edtech, fintech, and logistics. This diversified approach not only spreads risk but also taps into multiple high-growth domains, ensuring robust returns for investors and supporting wide-ranging technological innovations.

8. Impact-Driven Approach

Committed to transformative social impact, Physis Capital stresses solutions that address real-world problems through technological innovation. Investments are intended to propagate sustainable business models with a collaborative focus across both domestic and global markets.

9. Strategic Insights from Investors

Besides financial backing, Physis fosters strategic alliances with its Limited Partners (LPs), who are encouraged to contribute operational insights and industry connections, ultimately supporting the portfolio companies in scaling efficiently across diverse markets.

10. Future Prospects

As Physis Capital approaches its target fund closure, it aims to further solidify its position within India’s venture ecosystem. The focus will be on nurturing innovation and guiding startups toward achieving significant milestones, poised to unveil the next wave of global market disrupters.

Conclusion

Physis Capital, with its clear emphasis on technology-driven innovation and a tactical approach to venture capital, is on course to redefine startup success in India. By strategically backing visionary entrepreneurs, they provide not just funding but serve as catalysts for change. Physis encapsulates a forward-thinking venture model, encouraging profound shifts across various industries. As they continue to identify and support promising startups, Physis Capital remains a compelling force in shaping India’s technology landscape.