A snapshot of PE/VC activity during April 2026
According to the EY-IVCA monthly PE/VC roundup, private equity and venture capital investments in India decreased by 51% in month-on-month in value terms.
- Investment activity subdued:
PE/VC investments in India stood at US$2.7 billion across 83 deals, marking a 49% decline year-on-year and 51% drop month-on-month — the lowest monthly investment value in nearly 2.5 years. - Growth capital emerges as the key driver:
Growth investments led activity with US$1.4 billion deployed, becoming the largest deal segment during the month. - Startup momentum moderates:
Startup investments totaled US$756 million, reflecting a significant slowdown compared to prior periods. - Infrastructure remains a strategic priority:
Infrastructure continues to attract sustained investor interest, recording its highest share of investments since 2021, with renewables and transport assets leading the segment. - Sectoral trends led by real estate and financial services:
- Real estate: US$699 million (top sector)
- Financial services: US$440 million
- Technology: US$361 million
Together, these sectors accounted for 55% of total investments.
- Decline in large deals and overall deal activity:
Large deals contributed US$1.7 billion across nine transactions, reflecting a notable decline in both value and volume. - Exits show resilience despite slowdown:
PE/VC exits stood at US$730 million across 15 deals, registering an 18% year-on-year increase, led primarily by secondary transactions (59% of exit value). - Macroeconomic factors weigh on sentiment:
Currency depreciation, elevated commodity prices, and valuation gaps between buyers and sellers have led to cautious investor behavior despite significant dry powder availability. - Outlook: Short-term caution, long-term confidence:
While near-term investment activity is expected to remain measured, India’s strong macro fundamentals and long-term growth trajectory continue to underpin positive medium- to long-term investor outlook.
