What cheque size does Phi Capital Growth Fund 1.6 write?

As compiled from public sources: USD 15-40M per company (~INR 125-330 Cr); growth capital for small/mid-market

How do I pitch Phi Capital Growth Fund 1.6 through iHub India?

Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.

VC fund (Cat II) · SEBI registry

Phi Capital Growth Fund 1.6

Growth (Series C+) · Not disclosed · Mumbai

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Contact on file — shared on accepted request

At a glance

Stage focus: Growth (Series C+)
Primary sector: Not disclosed
City: Mumbai
HQ / office: Anand Niketan, New Delhi (offices also in Mumbai and GIFT City)
Fund registered: 2022
Investments on record: 13
Corpus (as reported): ~USD 500 million AUM across 3 funds (per official site)
Website: phicapital.in
LinkedIn: Profile ↗

About

Phi Capital is a Delhi-headquartered India-focused mid-market private equity firm (active since ~2005) that backs established businesses with growth capital plus operating expertise from former CXOs. Phi Capital Growth Fund 1.6 is its SEBI Category II AIF vehicle. The firm reports ~USD 500m AUM across three funds; IFC is an LP/investor.

Investment focus

Mid-market private equity / growth capital — concentrated, control/significant-minority stakes in established Indian businesses; active operating involvement across diversified sectors

Cheque size

USD 15-40M per company (~INR 125-330 Cr); growth capital for small/mid-market

As compiled from public sources — verify with the investor.

SEBI registration

SEBI AIF Category II — reported as “Cat II”

IN/AIF2/22-23/1056

SIDBI Fund of Funds

Yes — DFI/government-linked LPs: IFC (World Bank Group) proposed equity investment up to USD 20M (<=20% of commitment) in Phi Capital Growth Fund 1.6 GIFT City Fund (Fund II); DEG (German DFI, KfW group) committed ~EUR 17M. No SIDBI FFS commitment found. Sources: IFC disclosure; PEI/LinkedIn

Notable portfolio

S.L.N. Coffee; Namma Yatri; Krsnaa Diagnostics; Pricol; Ramkrishna Forgings; Classic Legends (Jawa/Yezdi/BSA); Spark Minda

Team & organisation

~11 investment professionals/partners (Founder & MP Anupam Thareja; 2 Investment Partners; plus directors/associates); 11-50 employees per LinkedIn

Category II AIF; Manager entity Phi Capital Solutions LLP (founded 2007); multi-fund (PCGF-1, Fund 1.6 / GIFT City Fund II); Master Fund + GIFT City Fund structure

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Frequently asked

What does Phi Capital Growth Fund 1.6 invest in?: Mid-market private equity / growth capital — concentrated, control/significant-minority stakes in established Indian businesses; active operating involvement across diversified sectors
What cheque size does Phi Capital Growth Fund 1.6 write?: As compiled from public sources: USD 15-40M per company (~INR 125-330 Cr); growth capital for small/mid-market
How do I pitch Phi Capital Growth Fund 1.6 through iHub India?: Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.

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About this record

⚑ PE / growth-capital fund (Cat II) — not early-stage startup VC; backs mature/established companies

Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.

Sources: https://disclosures.ifc.org/project-detail/SII/48900/phi-capital; https://phicapital.in/our-team/