Private Equity – Venture Capital (PE-VC) firms invested over $14 billion (across 318 deals) in Indian companies during the July – Sep 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 77% surge over the $7.9 billion (across 351 deals) invested in the same period during 2025 and an uptick of about 115% compared to the immediate previous quarter (which witnessed $6.5 billion being invested across 314 deals).
On a 9-month basis, the investment value – at $31.7 billion (across 1,042 deals) – rose 21% compared to the same period in 2025, (which witnessed $26.2 billion being invested across 1,055 deals).
Reflecting continued selectivity in deal making, the volume of PE-VC investments in Q3’26 fell by 9.4% compared to Q3’25 and 1.27% compared to the immediate previous quarter. Deal volume declined 1.23% for the 9-month period.
Q3’26 witnessed 28 mega deals ($100 M+ rounds) worth $10.7 billion, compared to 22 such investments (worth $4.5 billion) in Q3’25 and 16 such deals (worth $3.6 billion) in the immediate previous quarter.
The largest investment in Q3’26 was KKR’s $1,385 million acquisition of Medicover Hospitals, the Indian hospital operations division of Sweden-based healthcare services provider Medicover AB. This was followed by La Caisse’s $1,281 million investment in passive telecom infrastructure focused Altius Telecom Infrastructure Trust. Temasek, along with Alpha Wave Global, BlackRock and Premji Invest invested $1,033 million of primary capital in Adani Airport Holdings, India’s largest private airport infrastructure company. Multi-asset manager Alpha Alternatives acquired four operational tol road assets of the Welspun Group for $787 million. Brookfield’s $600 million investments each in clean energy producers ACME Cleantech Solutions and Lumara rounded out the top five.
By Industry
Healthcare & Life Science rose to the top of the PE investment chart in Q3’26 attracting over $3 billion across 26 deals. The biggest deal in the industry was the $1,385 million investment in Medicover Hospitals by KKR. It was followed by by Advent International’s $328 million investment in publicly listed Yatharth Super Speciality Hospitals. The $200 million investment in orthopaedic and rehabilitation product manufactures Tynor Orthotics led by Kedaara Capital completed the top three deals in the industry.
Led by the $600 million investments in Lumara and ACME Cleantech Solutions, Energy companies came in second, attracting $2,325 million across 12 deals.
The Engg. & Construction industry attracted about $1,804 million across 7 deals during Q3’26. Investments in the industry were led by the $787 million investment by Alpha Alternatives in Welspun Group’s Road Assets and the $450 million investment in Maple Infrastructure Trust (led by Macquarie).
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 Q3 2026 in the next few days.)
