Growth stage focused Physis Capital on Tuesday announced its first close of CAT II USD 50 million fund. The first close is reached at USD 7 million and is on track to do 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 capital.
Ankur Mittal, Partner, Physis Capital says, “We have seen investors interest remaining steady with respect to startup investments in the Indian startup ecosystem. ‘Smart money’ i.e. experienced investors realise that downturn economic cycles are the best times to identify great businesses and invest in them. Hence, we’ve received good interest in the past few months, especially from new investors who are backing the GPs and investing with us for the first time, looking at our track record. Physis is led by a strong investment team with deep experience in funding and supporting startups over the last 5 years and that has generated strong returns for its investors."