Physis Capital Invests Rs 5 Cr In CTPL

Physis Capital, the venture capital fund established by the team behind Inflection Point Ventures (IPV), known for investing in companies like Bharat Pe, Blusmart, VideoVerse, Milkbasket, Samosa Party, Stage, and Otipy, has made its second investment of INR 5 crore in CTPL. This USD 50 million fund focuses on supporting tech-enabled startups that solve real-world challenges for businesses and consumers in India, aiming for large-scale impact. Earlier this year, the fund invested in Ben & Gaws.

Founded by IPV partners Vinay Bansal, Ankur Mittal, and Mitesh Shah, Physis Capital is a growth-stage fund targeting startups from Pre-Series A to Series B. Physis is a multi-sector fund and plans to build a portfolio of 12-15 startups. The investment per startup will range from $500K to $1.5M in the first round, with continued support for potential winners in follow-on rounds. As Physis Capital nears its final close, the fund has a mix of retail and institutional investors as LPs in the fund, including HNIs, family offices, and corporate offices that have invested in the fund.

Commenting on the investment philosophy, Ankur Mittal, General Partner, Physis Capital, says, “Physis Capital is committed to identifying and nurturing startups that use technology to address critical challenges and create meaningful impact. Our focus is on ventures that contribute to India’s foundational growth, which is why our first fund is structured as an India growth opportunity fund. We place a strong emphasis on fundamentals of the company including scalability and unit economics in our investment decisions.”

CTPL is modernising the education sector with its Admissions as a Service platform, streamlining enrollment for higher education institutes. CTPL has doubled its revenue year on year for the past 3 years, while remaining profitable, and is poised to enter international markets this year. CTPL has raised a total of $4M in a mix of dilutive and non-dilutive capital in this round.

Bikash Sahoo, CEO, CTPL, says, “Physis Capital has been an incredible partner in our journey backing us from the very beginning and offering invaluable support through their network and expertise. Investment by Physis is a positive reinforcement to our vision of building a Global Admissions Management Company, enabling educational universities and institutions to grow their businesses and create a next-generation educational environment. With support from Physis Capital, IPV, GVFL, and other investors, we’re set to ramp up our tech capabilities, enhance our offerings, and drive global expansion. We’re gearing up for the next round in 6-9 months with an ARR of Rs 50-60 crore.”