Growth-stage focused venture capital firm Physis Capital has announced its first close of CAT II $50 million fund.
In March 2022, angel investment platform Inflection Point Ventures (IPV) had announced the launch of its $50 million new fund Physis Capital with a green shoe option of another $25 million.
Physis Capital will invest in startups looking to raise pre-Series A to Series B capital by Q3 2023. According to the fund, the first close has reached $7 million and is on track to be the final close in 2024. It is looking to build a portfolio of 15-20 startups with an average ticket size of $2.5 million.
“While majority of funds raised by Physis Capital so far are from Indian investors belonging to HNIs and family offices, we are now receiving significant interests from investors across multiple international locations including Singapore, USA and UAE,” said Mitesh Shah, partner at Physis Capital.
The Gurugram-based firm will also focus on strong deal sourcing and pipeline building strategies, which would be key drivers to Physis’ success in accessing unique opportunities to invest.