What is Physis Capital and Why is It Making Waves in the AIF Space?
Physis Capital, an India-focused Alternative Investment Fund (AIF), is creating a buzz in the startup ecosystem with its distinctive, operator-led approach to startup investing. As a Category I AIF, Physis Capital blends deep operational know-how with a robust investment strategy, fueling India’s next wave of unicorns.
Why Physis Capital AIF Stands Out?
Physis Capital AIF doesn’t just invest in startups—it builds them. With over 195 startup investments through its previous ventures and a $25 million fund, Physis Capital is rewriting the rules of venture capital in India.
Physis Capital AIF – Key Fund Highlights
| Feature | Details |
|---|---|
| Fund Size | $25 Million |
| Structure | SEBI-regulated Category I AIF |
| Investment Stage | Pre-Series A to Series B |
| Minimum Commitment | INR 1 Cr |
| Sectors Covered | FinTech, SaaS, Health-tech, Agri-tech, Mobility, Climate-tech, Deep-tech, Ed-tech, and more |
| Target IRR | Up to 64% for full exits |
| Management Fee | 2% per annum |
| Carried Interest | 20% with catch-up |
| Reinvestment | Up to 100% of committed capital |
The Physis Capital AIF Dream Team
Behind Physis Capital AIF are three stalwarts with a combined experience of over 70 years in venture capital, startup scaling, and global finance:
Meet the Minds Behind Physis Capital
Vinay Bansal – The Turnaround Titan
Transformed brands like Vishal Mega Mart, Healthium, Campus Shoes
Took multiple companies to IPO
Previously co-founded IPV Fund I, one of India’s largest angel funds
Mitesh Shah – The Consumer-Tech Maestro
Key figure behind Ola and BookMyShow
Ranked #32 on Forbes Top 100 Investors in India
Expert in Consumer-Tech, FinTech, Climate-Tech
Ankur Mittal – The Global Investment Banker
Deep experience in M&A (New York and London)
Founder of Asia’s leading finance training company
Expert in SaaS, EdTech, Deep-Tech, Logistics
Why Startups Love Physis Capital AIF
The success of Physis Capital AIF isn’t accidental—it’s engineered. Here’s how:
1. Sourcing
Physis leverages its vast network—over 17,000 startup evaluations—to cherry-pick high-potential businesses for the Physis Capital AIF portfolio.
2. Due Diligence
With experience across 195+ deals, Physis conducts rigorous GP-led due diligence powered by top industry experts.
3. Post-Investment Support
From weekly mentoring calls to strategic connects with 700+ VCs and PEs, Physis Capital AIF brings more than just capital to the table.
Proven Track Record: Physis Capital’s AIF Performance So Far
| Metric | Value |
|---|---|
| Total Invested | $93 Million |
| Startups Funded | 215 |
| Full Exit IRR | 64% |
| Optional Exit IRR | 46% |
| Overall IRR | 29.6% (including write-offs) |
| Top Exit MoM | 40x (VideoVerse exit) |
Success Stories That Define Physis Capital AIF
1. Otipy
From local agri-tech startup to a valuation of INR 903 Cr, Otipy scaled 12x in 4 years with Physis Capital’s operational mentoring.
2. VideoVerse
An AI video-tagging platform from a Tier-2 city rejected by most—until Physis Capital stepped in. Result? A 40x exit with 217% IRR.
Physis Capital AIF = Venture Capital Done Right
At its core, Physis Capital AIF is about:
-
- Backing market leaders solving real problems
-
- Using technology as an enabler
-
- Partnering with visionary founders
-
- Delivering superior risk-adjusted returns
This makes it one of the most compelling Category I AIF opportunities in India today
Terms & Benefits of Investing in Physis Capital AIF
| Term | Details |
|---|---|
| Minimum Cheque Size in Startups | $500k (INR 4 Cr) |
| Minimum Investor Commitment (SEBI) | $125k (INR 1 Cr) |
| Fund Tenure | 7 + 1 + 1 years |
| Setup Fee | Up to 1.5% one-time |
| Operating Fee | 0.75% annually |
| Management Fee | 2% annually |
| Hurdle Rate | 10% in INR terms |
| Carried Interest | 20% with catchup |
| Reinvestment | Up to 100% |
| Co-Investment Opportunities | Available with $1 Mn minimum |
Physis Capital AIF is Not Just a Fund – It’s a Movement
-
- Backed by top LPs including Swiggy, Livspace, Haldiram’s, Lotus Herbals, BookMyShow
-
- Ethical structure with no conflict of interest with IPV
-
- Full-time access to experienced CXOs and fund operators
If you’re looking to ride the next wave of India’s startup boom, Physis Capital AIF offers a rare combination of trust, transparency, talent, and track record.
Final Thoughts: Why You Should Watch (and Invest in) Physis Capital AIF
In a world of cookie-cutter funds, Physis Capital AIF stands apart. Whether you’re an LP, a startup founder, or an ecosystem enabler—Physis Capital is where India’s next success stories are born.
Want to learn more or invest in Physis Capital AIF? Reach out today.