Physis Capital reaches first close of $7 million for $50 million fund

Physis Capital, the venture capital arm of angel network Inflection Point Ventures (IPV), announced on Tuesday the first close of $7 million (about Rs 58 crore) for its $50 million (about Rs 414 crore) fund. It said the fund is on track to achieve the final close in 2024.

Physis Capital will actively look to invest from its first fund by Q3 2023 in startups looking to raise pre Series A to Series B (or growth stage) capital.

“We have seen investors interest remaining steady with respect to startup investments in the Indian startup ecosystem,” Ankur Mittal, partner at Physis Capital, said.