Key Takeaways
- • India's PE-VC investments reached $39 billion across 1,434 deals in calendar 2025, up from $33.5 billion in 2024, according to Venture Intelligence data cited by the Times of India.
- • Investments reached $32.7 billion through 1,076 deals in the first nine months of 2026, with a record $6 billion in September 2026 alone, putting the market on course to match or exceed 2025's total.
- • Infrastructure has become the centre of the recovery, with Canadian investors including La Caisse, CPP Investments and Brookfield deploying more than $3 billion in infrastructure companies in 2026, per Venture Intelligence founder Arun Natarajan.
- • The figures exclude real estate, so the revival reflects private capital flowing into energy, telecom towers, data centres, toll roads and manufacturing rather than housing or property transactions.
- • Geopolitics, national security, import substitution and supply-chain resilience are raising the strategic appeal of domestic manufacturing and tangible assets, according to Aniket Dharamshi of Value Quest Investment Advisors.
Summary
India's private equity and venture capital market is recovering, with capital increasingly directed toward infrastructure. Data sourced by the Times of India from Venture Intelligence shows PE-VC investment reached $39 billion across 1,434 deals in calendar 2025. In the first nine months of 2026, investments had already reached $32.7 billion through 1,076 deals, and September 2026 recorded a record $6 billion, according to Arun Natarajan, founder of Venture Intelligence. The figures exclude real estate, so they do not measure housing sales, property transactions or developer funding.
The recovery follows two years of decline. PE-VC investment fell from $64.4 billion in 2021 to $48.9 billion in 2022, $33.8 billion in 2023 and $33.5 billion in 2024. Natarajan said private equity investors are "doubling down" on infrastructure, with large foreign investors active in renewable energy, telecom towers, data centres and toll roads. Canadian investors, including La Caisse (formerly CDPQ), CPP Investments and Brookfield, have deployed more than $3 billion in infrastructure companies in 2026. The source does not provide a full sector-wise breakdown of the January-September total.
According to Aniket Dharamshi, co-founder and managing partner of Value Quest Investment Advisors, geopolitics, national security, import substitution and supply-chain resilience are increasing the strategic value of domestic manufacturing and tangible assets. Dharamshi also linked artificial-intelligence expansion to rising demand for data-centre capacity and power. The report does not quantify that demand.
Several limits qualify the headline figures. Deal-size distribution is not provided, so large transactions may be inflating totals. The report does not show how much infrastructure investment is new capital versus acquisitions or expansion, nor its geographic distribution. Dharamshi said whether the broader revival lifts core PE-VC deployment will depend on economic and earnings growth, valuation expectations and a stable investment environment. Regulatory, concession and public-planning implications are not addressed in the source.
The recovery follows two years of decline. PE-VC investment fell from $64.4 billion in 2021 to $48.9 billion in 2022, $33.8 billion in 2023 and $33.5 billion in 2024. Natarajan said private equity investors are "doubling down" on infrastructure, with large foreign investors active in renewable energy, telecom towers, data centres and toll roads. Canadian investors, including La Caisse (formerly CDPQ), CPP Investments and Brookfield, have deployed more than $3 billion in infrastructure companies in 2026. The source does not provide a full sector-wise breakdown of the January-September total.
According to Aniket Dharamshi, co-founder and managing partner of Value Quest Investment Advisors, geopolitics, national security, import substitution and supply-chain resilience are increasing the strategic value of domestic manufacturing and tangible assets. Dharamshi also linked artificial-intelligence expansion to rising demand for data-centre capacity and power. The report does not quantify that demand.
Several limits qualify the headline figures. Deal-size distribution is not provided, so large transactions may be inflating totals. The report does not show how much infrastructure investment is new capital versus acquisitions or expansion, nor its geographic distribution. Dharamshi said whether the broader revival lifts core PE-VC deployment will depend on economic and earnings growth, valuation expectations and a stable investment environment. Regulatory, concession and public-planning implications are not addressed in the source.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.