Private Equity – Venture Capital (PE-VC) firms invested over $6.4 billion (across 266 deals) in Indian companies during the April – June 2026 quarter, shows data from Venture Intelligence, a research service focused on private company financials, transactions, and their valuations. (Note: These figures exclude PE investments in Real Estate).
The investment amount represents a 3% decline over the $6.6 billion (across 309 deals) invested in the same period during 2025 and a decline of about 42% compared to the immediate previous quarter (which witnessed $11 billion being invested across 376 deals). Deal volumes in Q2’26 fell by 14% compared to Q2’25 and by 29% compared to the immediate previous quarter.
Q2’26 witnessed 17 mega deals ($100 M+ rounds) worth $3.8 billion, compared to 15 such investments (worth $3.6 billion) in Q2’25 and 21 such deals (worth $7.2 billion) in the immediate previous quarter.
The largest investment in Q2’26 was the $732 million investment of data centre platform CtrlS Data Centers, by Canada-headquartered Pension Fund CPPIB. This was followed by another Canada-based PE firm Fairfax Holdings’s acquistion of a controling stake in publicly listed NBFC IIFL Capital Services for $384 million. Global PE investors British International Investment (BII) and Copenhagen Infrastructure Partners created a $300 million Renewable Energy investment platform North Star Energy, while US-headquartered PE giant Carlyle acquired healthcare RCM provider EqualizeRCM for $300 million. Digital lender KreditBee’s $280 million Series E round from Advent International, Dragon Capital, Motilal Oswal Alternates, Orchid Asia, PremjiInvest and White Oak Capital Management, completed the top 5.
By Industry
IT & ITeS remained the top industry for the quarter attracting $2.7 billion across 149 deals. The biggest deal in the industry was the $300 million investment in RCM Healthcare Provider EqualizeRCM by Carlyle. It was followed by the $280 million investment in personal loans provider KreditBee (from Advent International, Dragon Capital, Motilal Oswal Alternates, Orchid Asia, PremjiInvest and White Oak Capital Management). The $240 million investment in mobility platform Rapido led by Accel India, Prosus Ventures and WestBridge Capital completed the top three deals in the industry.
Led by the $ 732 million investment in CtrlS Data Centers, the Telecom industry rose the second position among the most favored industries by PE-VC investors during the quarter.
The BFSI industry attracted about $574 million across 8 deals during Q2’26. Investments in the industry were led by the $384 million investment by Fairfax Holdings in IIFL Capital Services and the $96 million investment in Aditya Birla Capital (led by IFC). They were followed by the $80 million investment in another NBFC, Axis Finance, by Kedaara Capital.
Venture Intelligence is India’s longest-serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital, and M&A) & their Valuations in India.
(Venture Intelligence Subscribers will be mailed detailed reports of the PE-VC action during Q2 2026 in the next few days.)
