CXO-driven angel investment platform Inflection Point Ventures (IPV) has announced the launch of its CAT II fund Physis Capital. With Physis Capital, the partners, namely, Vinay Bansal, Mitesh Shah and Ankur Mittal, are set to replicate the success of First Port Capital (Angel Fund) and the IPV angel investment platform, a press statement said.
Physis Capital 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. The platform will participate/lead investments in startups looking to raise pre-Series A to Series B capital.
Physis Capital aims to build a portfolio of 15 — 20 startups with an average ticket size of $2.5 million. It will start deploying capital post the first close. The platform is in the final stage of the registration process and is awaiting approval from the Securities and Exchange Board of India.
Vinay Bansal, Partner, Physis Capital says, “As an angel platform, we have led some of the most well-known and big Seed and Series A rounds. Our aim is now to solidify our leadership position in the growth capital investment segment. This fund is for investing in select pre-Series A to Series B startups, to enable their success through an integrated ecosystem, consisting of technical, operational, business and strategic mentorship and support along with funding.”
Physis Capital plans on investing in sectors like 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 percent of the fund size will be deployed in backing proven winners from the IPV portfolio, it said.
Ankur Mittal, Partner, Physis Capital says, “On the startups’ side, we have deep relationships with top e-cells, incubators and other angel networks, which makes us confident of high quality startups inflow. These factors backed by our study of the growth of Indian startups and strong confidence restored in us by our existing investors played a role in taking a step to launch a structured VC fund.”
According to a latest report by Nasscom, IPV was announced as one of the most active angel platforms in India in 2021. With Physis Capital, it is expected to disrupt the growth funding stage as the scale and size of investment is likely to go up.
Mitesh Shah, Partner, Physis Capital says, “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”.