Physis Capital is a growth-stage venture capital firm founded by the team behind Inflection Point Ventures, the CXO-driven angel investing platform. The firm's partners — Vinay Bansal, Ankur Mittal and Mitesh Shah — describe themselves as on a mission to raise the success rate of Indian startups beyond the Series B stage, pairing cheques with integrated technical, operational and strategic mentorship.
The thesis
Physis's starting premise, stated on its website, is that only 2% of Indian startups make it beyond Series B funding, because growth-stage startups rarely get structured mentorship. Its answer is an integrated monetary and non-monetary support ecosystem: funding alongside CXO-level guidance. The platform includes CXO Genie, a network of over 2,000 CXOs and senior industry professionals assembled to solve time-bound CXO-level problems, plus founder ecosystems for mentoring, VC connects and talent hiring. It is sector-agnostic but concentrates on consumer technology, fintech, SaaS, deeptech and logistics.
Fund and stage
Physis launched a $50 million fund with a $25 million greenshoe option, focused on Pre-Series A to Series B, India-focused startups. Incubees and Entrepreneur India reported the final close of the maiden fund at INR 400 crore, with the fund planning to build a portfolio of 15 to 20 companies and invest between $1 million and $3 million per startup; over 60% of the corpus was already deployed or committed across 10 startups at the time of the close. The LP base includes Star Union Dai-ichi Life Insurance, Haldiram's Family Office, Lotus Holdings, Ajmera Realty, Narayana Nethralaya and DS Group, alongside HNIs and family offices. Incubees also reported that the firm plans to launch a larger second fund in Q4 of calendar year 2026.
Portfolio highlights
Physis lists portfolio companies on its website including CTPL.io, regional-OTT platform STAGE, sports-venue booking platform Hudle, Recur Club, HRS Navigation, Elevate Now, Olyv, Urban Harvest, steel-fabrication platform Ben & Gaws and Otipy. Incubees also reported Momentum in the portfolio. The common thread is post-product-market-fit, technology-led businesses in fintech, consumer tech and deeptech that need growth capital and operating muscle — precisely the gap Physis was built to fill.
People and programs
The partners bring deep operating and investing track records: Vinay Bansal (founder of Inflection Point Ventures; former senior advisor and turnaround specialist at TPG, ex-CFO at Wildcraft and GE Supply Chain South Asia), Ankur Mittal (co-founder of IPV; former head of Asia and Middle East at Training The Street, ex-Credit Suisse and Citigroup) and Mitesh Shah (co-founder of IPV; former CFO at Ola and BookMyShow, Sequoia scout program member) — each with 100-plus startup investments to their name. Post-investment support covers talent, strategic partnerships, revenue opportunities, cost discipline and compliance, plus access to future debt and equity rounds through the firm's ecosystem relationships.
Why it matters for founders
If you are raising a Pre-Series A to Series B round and the bottleneck is not just capital but operating expertise, Physis Capital is built for exactly that stage — a INR 400 crore growth fund from the Inflection Point Ventures lineage, with a 2,000-plus CXO network on tap and tickets of $1 million to $3 million. For founders past early traction who need scaling muscle, this is one of India's more founder-operator-led growth investors.