Fund News
Physis Capital raises Rs.400-Cr for maiden VC fund
Gurugram-based growth-stage venture capital firm Physis Capital has raised INR 400-Cr in the final close of its maiden fund. The capital was raised from institutional investors, family offices and senior corporate leaders. Notable investors in the fund include Star Union Dai-ichi Life Insurance and the family offices of Haldiram’s, Lotus Herbals, Ajmera Realty, Narayana Nethralaya and the Dharampal Satyapal Group.Physis Capital intends to use the funds to support pre-Series A to Series B startups, with target cheque sizes between USD 1-M and USD 3-M. The firm plans to reserve a portion of the corpus for follow-on investments in its high-conviction portfolio companies.Founded in 2022 by Ankur Mittal, Vinay Bansal, and Mitesh Shah, the firm has deployed capital across 10 companies to date and has committed over 60 percent of its corpus, with a focus on tech-led startups in sectors including consumer-tech, fintech, and health-tech.The firm is also preparing to launch a second fund of INR 2,000-Cr in the fourth quarter of the current calendar year, which will target 20-25 companies including deep-tech ventures.
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