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PE/VC roundup July 2026
Our roundup highlights the Private Equity/Venture Capital investment activity in India.
A snapshot of PE/VC activity during July 2026
According to the EY-IVCA monthly PE/VC roundup, July 2026 recorded the second highest monthly investments in 2026 (US$4.1 billion), 52% higher month-on-month (US$2.7 billion in June 2026).
Investments
PE/VC investments in July 2026 reached US$4.1 billion, marking a 3% year‑on‑year (y‑o‑y) increase from July 2025 (US$4 billion) and a 52% month‑on‑month (m‑o‑m) increase from June 2026 (US$2.7 billion). The number of deals decreased to 111 in July 2026, representing a 7% y‑o‑y decrease from July 2025 (119 deals) and a 39% m‑o‑m increase compared to June 2026 (80 deals).
July 2026 recorded 10 large deals totaling US$2.8 billion, reflecting a 9% increase in value compared to July 2025 (US$2.6 billion across nine large deals) and a 60% increase compared to June 2026 (US$1.7 billion across six deals). Large deals accounted for 68% of overall PE/VC investments in July 2026. The largest deal of the month was Brookfield’s investment of US$600 million in Lumara.
Buyout investments accounted for the largest share of PE/VC activity in July 2026, with US$1.4 billion deployed, a 176% increase in value compared to July 2025 (US$511 million). Credit investments ranked second, with US$880 million invested—an increase of 3% from US$855 million in July 2025. Growth investments recorded US$817 million, 28% lower than the amount recorded in July 2025 (US$1.1 billion). Start-up investments followed with US$805 million, a 90% year-on-year increase (US$425 million) in July 2025. PIPE investments stood last with US$173 million, a decrease of 83% compared to July 2025 (US$1 billion).
From a sector perspective, infrastructure led PE/VC activity in July 2026 with US$1.5 billion, followed by financial services with US$649 million and food and agriculture with US$335 million. Together, these sectors accounted for 61% of overall PE/VC investments in July 2026.
PE/VC fundraise trends
PE/VC fundraising activity has been on an upward trajectory over the last few years with funds raising an aggregate US$135.8 billion across 781 fundraises since 2016. Notably, fundraising has accelerated significantly in recent years, with nearly 72% of the total capital raised (US$97.7 billion) and 70% of all fundraises (547) recorded since 2021.
2026 has already emerged as the strongest year for PE/VC fundraising on record, with US$23.7 billion raised across 56 fundraises despite five months still remaining in the year. Fundraising activity was significantly boosted by Bain Capital's US$10.5 billion fund, focused on investments across Japan, India, China, Australia and Korea, targeting sectors such as technology, industrials, consumer, healthcare, business services and financial services. This fund alone accounted for 44% of the total capital raised during the year. In comparison, 2025 recorded the highest number of fundraises (123).
Some of the notable fundraises (apart from US$10.5 billion fund raise by Bain Capital) include US$3.2 billion raised by NIIF, US$2.7 billion raised by Tiger Global and US$2.2 billion raised by ChrysCapital.
In terms of sectoral allocation, 46% of the funds were earmarked for sector-agnostic deployment (US$45.4 billion), followed by technology (US$20.3 billion), real estate (US$12 billion) and infrastructure (US$9.7 billion). In terms of the number of fundraises, sector-agnostic funds saw the highest number (219), followed by technology (154) and real estate (55).
Private Equity (PE) led the fundraising arena, raising US$39.8 billion (41% of total funds raised), followed by Venture Capital (VC) funds at US$28.0 billion (29%), and debt funds at US$12.9 billion (13%).
According to a VCCircle report, dry powder available to India-focused Alternative Investment Funds (AIFs) is approaching the US$100 billion mark. This substantial pool points to a favorable medium-term outlook for the PE/VC ecosystem. As investor sentiment gradually improves and geopolitical uncertainties moderate, a meaningful portion of this capital is expected to be deployed, potentially accelerating deal activity.
Looking ahead, fundraising activity is expected to remain healthy, supported by improving market conditions, strong exit potential, increasing allocations from global LPs to India-focused strategies, and continued confidence in India's long-term growth trajectory.
Exits
July 2026 recorded 17 exits worth US$1.6 billion compared to US$9.2 billion across 26 exits in July 2025 (which included Temasek’s exit from Schneider Electric India for US$6.4 billion) and US$1.5 billion across 24 exits in June 2026. (The deal values were not available for four of the 17 exits recorded in July 2026.)
Secondary exits were highest in July 2026, totaling US$808 million across four exits, accounting for 52% of the total exit value.
The largest exit in July 2026 was NIIF and others selling their 100% stake in Aseem Infrastructure Finance Limited (AIFL) for US$521 million.
Fundraise
July 2026 recorded total fundraises of US$2.5 billion (across eight fundraises), compared to US$1.5 billion in July 2025 (across 14 fundraises) and US$4.3 billion (across four fundraises) in June 2026.
The largest fundraise of the month was ‘Startup India Fund of Funds 2.0’ for US$1 billion. The government initiative seeks to bridge funding gaps and broaden the reach of venture capital beyond major metropolitan hubs.
Download the EY-IVCA PE/VC roundup July 2026
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Our press releases
2026 set to be a record year for India PE/VC fundraising with US$23.7 billion raised so far according to the EY-IVCA Report
PE/VC investments in India reach US$20.5 billion across 604 Deals in 1H2026: EY-IVCA Report
Mumbai, 31st July 2026. PE/VC investments in India reach US$20.5 billion across 604 Deals in 1H2026 according to the EY-IVCA Report
Mumbai, 30 April 2026.Indian PE/VC investment activity moderates to US$13.1 billion across 360 Deals in 1Q2026 according to the EY-IVCA Report.
PE/VC investments in India reachUS$2.7 billion across 83 Deals in April 2026: EY-IVCA Report
Mumbai, 25 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.
India’s PE/VC industry staying on the front foot despite global headwinds: EY–IVCA Trendbook 2026
Read how Indian PE/VC investments continued their upward trajectory, reaching US$60.7 billion across 1,475 deals—an 8% year on year increase.
PE/VC Investments in India reach US$5.3 billion across 102 deals in October 2025 : EY-IVCA Report
Mumbai, 28 November 2025.PE/VC Investments in India reach US$5.3 billion across 102 deals in October 2025 according to the EY-IVCA Report.
PE/VC Investments in India reach US$11.7 billion across 369 deals in 3Q2025 : EY-IVCA Report
Mumbai, 18 October 2025. PE/VC Investments in India reach US$11.7 billion across 369 deals in 3Q2025 according to the EY-IVCA Report
PE/VC Investments in India reach US$2.8 billion across 115 deals in August 2025: EY-IVCA Report
Mumbai, 29 September 2025: According to the EY-IVCA monthly PE/VC roundup, private equity and venture capital investments in India decreased by 31% in August 2025 compared to July 2025 in value terms.
PE/VC Investments in India reach US$4 billion across 115 deals in July 2025: EY-IVCA Report
Read how India’s PE/VC investments hit US$4B in July 2025 over 115 deals boosted by fintech, healthcare exits, strong deal flow and investor confidence.
PE/VC Investments in India reach US$26.4 billion across 593 deals in 1H2025: EY-IVCA Report
Mumbai, 29 July 2025, PE/VC Investments in India reach US$26.4 billion across 593 deals in 1H2025 according to the EY-IVCA Report.
PE/VC Investments in India reach US$2.4 billion across 97 deals in May 2025: EY-IVCA Report
Mumbai, 23 June 2025.PE/VC Investments in India reach US$2.4 billion across 97 deals in May 2025 according to the EY-IVCA Report.
PE/VC Investments in India reach US$4.7 billion across 108 deals in April 2025: EY-IVCA Report
Mumbai, 19 May 2025. PE/VC Investments in India reach US$4.7 billion across 108 deals in April 2025 according to the EY-IVCA report.
Mumbai. 23 January 2024. PE/VC Investments in 2024 cross US$56 billion helped by an all-time high volume of 1,352 deals according to the EY-IVCA Report
October 2024 recorded PE/VC Investments worth US$4.7 billion across 91 deals: EY-IVCA Report
Mumbai, 18 November 2024.October 2024 recorded PE/VC Investments worth US$4.7 billion across 91 deals according to the EY-IVCA Report
Mumbai, 17 October 2024. 3Q2024 recorded PE/VC Investments worth US$8.8 billion across 283 deals; 40% y-o-y decline according to the EY-IVCA Report
August 2024 recorded PE/VC Investments worth US$2.9 billion across 92 deals: EY-IVCA Report
Mumbai, 16, September 2024. August 2024 recorded PE/VC Investments worth US$2.9 billion across 92 deals according to the EY-IVCA report.
July 2024 recorded PE/VC Investments worth US$2.7 billion across 81 deals: EY-IVCA Report
July 2024 recorded PE/VC Investments worth US$2.7 billion across 81 deals according to the EY-IVCA Report.
Mumbai, 22 July, 2024. PE/VC Investments increase to $31.5 Billion in 1H2024, Marking 8% Year-on-Year Growth according to the EY-IVCA Report
Mumbai, 21 March 2024.PE/VC exits in February 2024 recorded a 303% y-o-y surge at US$2.9 billion according to the EY IVCA Report.
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