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PE/VC roundup February 2026
Our roundup highlights the Private Equity/Venture Capital investment activity in India.
A snapshot of PE/VC activity during February 2026
According to the EY-IVCA monthly PE/VC roundup, private equity and venture capital investments in India decreased by 3% in February 2026 compared to January 2026 in value terms.
Investments
PE/VC investments in February 2026 reached US$3.7 billion, marking a 2% year‑on‑year (y‑o‑y) increase from February 2025 (US$3.7 billion) and a 3% month‑on‑month (m‑o‑m) decline from January 2026 (US$3.8 billion). The number of deals also increased to 109 in February 2026, representing a 5% y‑o‑y increase from February 2025 (104 deals) and an 8% m‑o‑m decrease compared to January 2026 (119 deals).
February 2026 recorded nine large deals totaling US$2.6 billion, reflecting a 26% increase in value compared to February 2025 (US$2.1 billion) and an 11% increase compared to January 2026 (US$2.4 billion). Large deals accounted for 71% of overall PE/VC investments in February 2026. The largest deal of the month was Blackstone, TVS Capital, 360 ONE, etc., investing US$1.2 billion into Neysa Networks Private Limited.
Buyout investments accounted for the largest share of PE/VC activity in February 2026, with US$1.6 billion deployed, a 1% decrease in value compared to February 2025 (US$1.7 billion). Growth investments ranked second, with US$874 million invested—an increase of 187% from US$304 million in February 2025. Start‑up investments recorded US$816 million, 59% higher than the amount recorded in February 2025 (US$514 million). Credit investments reached US$308 million in February 2026 compared to US$602 million in February 2025. PIPE deals were the smallest segment at US$69 million, 88% lower than the value recorded in February 2025 (US$569 million).
From a sector perspective, technology led in February 2026 with US$1.7 billion, followed by financial services with US$701 million and infrastructure with US$387 million. Together, these sectors accounted for 75% of overall PE/VC investments in February 2026.
Exits
February 2026 recorded 10 exits worth US$405 million compared to US$6 billion across 17 exits in February 2025 and US$544 million across 12 exits in January 2026. (The deal values were not available for four of the 10 exits recorded in February 2026.)
Exits through IPO were the highest in February 2026, totaling US$227 million across two IPOs and accounting for 56% of total exit value.
The largest exits during the month included Apax, TPG and other investors selling an 11.5% stake in Fractal Analytics Limited during its IPO for US$196 million.
Fundraise
February 2026 recorded total fundraises of US$2.6 billion (across 14 fundraises), compared to US$1.2 billion in February 2025 and US$744 million in January 2026.
The largest fundraise of the month saw Peak XV raising US$1.3 billion across three new funds (India Seed, India Venture and APAC Funds) with a focus on investments in fintech, artificial intelligence (AI) and consumer segments.
Download the EY-IVCA PE/VC roundup February 2026
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Our press releases
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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