Phi Capital Management

Phi Capital is an India-focused private equity firm established in 2008 and registered with the Securities and Exchange Board of India as an Alternative Investment Fund. The firm specializes in investing in growth and turnaround situations, particularly within high-growth sectors. Phi Capital identifies strong investment opportunities driven by India's favorable demographics, increasing consumerism, and evolving policy framework. The firm partners with small and medium enterprises, aiming to transform them into sustainable, world-class businesses. Phi Capital distinguishes itself through active participation in its investments, providing strategic direction and operational support alongside company management and promoters. Additionally, it leverages a robust network within various industries to enhance the value of its portfolio companies. As a result, Phi Capital is recognized for its ability to contribute meaningfully and catalyze change in the businesses it invests in.

Sivaram Padmanabhan

Partner, Investment Team

Sandra Pavlowsky

Co-Founder and Managing Director

Manish Srivastava

Partner

Manish Srivastava

Partner, Investment Team

Ashima Suri

Fundraise Partner

Anupam Thareja

Founder and Managing Partner

Haresh R

Partner, Investment Team

5 past transactions

AuthBridge

Series B in 2021
AuthBridge, established in 2005, is a prominent company in India specializing in background verification and risk mitigation. The firm focuses on employee background checks and has set industry standards through its technological expertise and innovative approaches. AuthBridge develops authentication technology that aids in identity and background verification, particularly for the banking, financial services, and insurance (BFSI) sector. Their solutions include Know Your Customer (KYC) and identity management products designed for bulk verification, ensuring compliance for enterprises. The customizable workflows offered by AuthBridge allow companies to efficiently manage onboarding, employee screening, and business partner intelligence in a remote and contactless manner.

Altigreen Propulsion Labs

Venture Round in 2019
Altigreen Propulsion Labs (APL) is creating intellectual property in aftermarket products for automotive systems using green and eco-friendly technologies. APL provides a unique value proposition in the high growth hybrid/electric vehicle sector of India, Asia and other emerging economies, with a multi-billion dollar business opportunity. It has already designed IP for 4-wheel passenger and commercial vehicles and has a strong product / technology foundation. It has a split R&D center in USA & India, with manufacturing and product distribution partners across India.

Krsnaa Diagnostics

Series B in 2019
Krsnaa Diagnostics provides clinical excellence through collaborative teleradiology services, allowing patients to receive robust evidence-based treatment from anywhere in the country. Well-qualified radiologists and pathologists from around the world deliver accurate reports using the most advanced technology, including an advanced cloud-based PACS workflow capable of rapid deployment and easy integration into flexible operational needs. Krsnaa Diagnostics is India's largest provider of diagnostic services in both Radiology and Pathology. It aims to be easily accessible and affordable to anyone who seeks best quality diagnosis.

The Arya Vaidya Pharmacy

Private Equity Round in 2017
The Arya Vaidya Pharmacy has grown in reputation as one of the pioneers in the field of Ayurveda. The Company headquartered at Coimbatore has a pan India network of doctors and sales and distribution network. Management of the Company is headed by Sri P.R. Krishnakumar who was instrumental in bringing Ayurveda to the attention of the World Health Organization (WHO). For his tireless efforts towards promotion of Ayurveda and service to society, Sri Krishnakumar has been conferred the prestigious Padmashri Award in 2009 by the Government of India and with the National Dhanwantari Ayurveda Award in 2016. AVP’s manufacturing facility at Kanjikode in Kerala is GMP certified and its newest facilities are created is ISO 22716:2007 certified and designed to meet the World Health Organization’s GMP standards. It produces nearly 500 products, majorly authentic classical formulations, in these facilities blending the best of tradition and modernity and by adhering to a strict quality control and assurance mechanism. AVP has nearly 600 outlets across the country, where all these medicines and expert clinical services are available. AVP Group over the years expanded from ‘Ayurvedic medicine manufacturing’ to the field of ‘treatment centres’, ‘education and research’, and ‘manufacturing of ayurvedic equipments’ to ensure high quality products, practitioners and services. The twin values of commitment to ‘quality of care’ and ‘purity of treatment’ are the distinguishing factors of AVP. The main treatment facility of AVP called The Arya Vaidya Chikitsalayam & Research Institute (AVC), functioning since 1957, is located in the heart of Coimbatore in the state of Tamil Nadu, India. AVC has the distinction of being one of the first ayurvedic hospitals to become ISO 9001:2008 certified for its compliance with international quality standards. After much scrutiny by the western media and medical fraternity, and AVC's relentless efforts to propagate ayurveda, the Public Broadcasting Service (PBS) in its investigative feature on Ayurveda has featured AVC while the Washington Post has acclaimed it as the ‘Mayo Clinic of Ayurveda’! AVC had partnered with Indian Council of Medical Research (ICMR) and the World Health Organization (WHO) for research on efficacy of ayurvedic treatment in rheumatoid arthritis. In recognition of this pioneering work, AVC has been the recipient of funding by the National Institutes of Health (NIH), USA for the first-ever clinical trial to scientifically evaluate Ayurveda outside the USA. Department of AYUSH, Government of India awarded AVC, “Centre of Excellence” in clinical rheumatology in the year 2009.
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