Angel investment platform Inflection Point Ventures (IPV) has announced the launch of its CAT II fund Physis Capital.
The fund will have a corpus of $50 million with a green shoe option of another $25 million and aims for its first close at $20 million. Physis Capital will participate/lead investments in start-ups looking to raise Pre Series A to Series B capital and aims to build a portfolio of 15-20 start-ups with an average ticket-size of $2.5 million.
Physis Capital will start deploying capital post the first close. It is in the final stage of the registration process and is awaiting approval from the Securities and Exchange Board of India, as per an official release.
The team
With Physis Capital, the partners - Vinay Bansal, Mitesh Shah and Ankur Mittal, are aiming to replicate the success of First Port Capital (Angel Fund) and the IPV angel investment platform.
Vinay Bansal, Partner, Physis Capital, said, “As an angel platform, we have led some of the most well-known and big seed and Series A rounds. . This fund is for investing in select Pre-Series A to Series B start-ups, to enable their success through an integrated ecosystem, consisting of technical, operational, business and strategic mentorship and support along with funding.”
Physis Capital will be actively investing in sectors such as vertical commerce, consumer tech, social/content creator, B2B SaaS and Enterprise tech. It will also identify multi-baggers from its IPV portfolio and back them from Physis Capital. Up to 50 per cent of the fund size will be deployed in backing proven winners from the IPV portfolio.
Ankur Mittal, Partner, Physis Capital, said, “Our due diligence is considered a benchmark in the industry and well respected by even the strongest VC firms. ”
Mitesh Shah, Partner, Physis Capital said, “With a demonstrated track record of generating returns and making angel investment mainstream, our aim is now to bring our expertise and leverage our strengths in building Physis Capital as one of the most successful VC funds from India.”