This digest considers a VMC multiphase buck converter and proposes a novel current balancing method and controller tuning algorithm to achieve fast transient with accurate phase current balancing for both master-master and master-slave VMC configurations. For the outer voltage controller design, small-signal based PID controller and type-III compensator design methods are considered. Finally, large-signal based PID controller is computed, which can significantly improve the transient performance. Performance improvement is demonstrated using simulation results. A four phase buck converter prototype is fabricated, and a few experimental results are presented.