PE and VC Investments in India reach 88 pc of 2024 levels, up 4 pc in Nov
Mumbai, Dec 23
Private equity and venture capital (PE and VC) investments in India increased by 4 per cent in November compared to October in value terms, a report said on Tuesday, adding that in 2025 so far, PE and VC investments have reached 88 per cent of last year’s levels.
Investments in the real estate and infrastructure asset class increased nearly fivefold (460 per cent) to $4.2 billion in November 2025 from $747 million in November 2024.
In terms of the number of deals, pure-play investments increased by 1 per cent year-on-year, whereas real estate and infrastructure deals were up by 73 per cent year-on-year, according to the EY-IVCA monthly PE/VC roundup.
“November 2025 recorded $5.6 billion in PE/VC investments, a 31 per cent year-on-year increase ($4.3 billion in November 2024) and a 4 per cent month-on-month increase ($5.4 billion in October 2025),” said Vivek Soni, Partner and National Leader, Private Equity Services, EY.
The number of deals increased to 113 in November 2025, a 12 per cent year-on-year increase (101 deals in November 2024) and a 4 per cent month-on-month increase (109 deals in October 2025).
In November, buyout deals were the highest at $2.1 billion, followed by startup investments at $1.7 billion. From a sector point of view, real estate was the top sector in November 2025, recording $3.7 billion in investments, followed by infrastructure ($531 million), the report showed.
PE/VC exits stood at $3.2 billion across 23 deals in November 2025, 11 per cent lower than in November 2024 ($3.7 billion). Exits through IPO accounted for 46 per cent of the total exit value ($1.5 billion).
Given the global and domestic headwinds, such as geopolitical tensions, tariff uncertainties under the Trump administration and the Rupee’s depreciation, investment activity has been pretty robust, said the report.
The recent repo rate cut by the RBI and the resilient GDP growth point towards attractive growth opportunities, positioning PE/VC investors to capitalize on the next phase of India’s growth cycle, it added.
November recorded total fundraises of $2.4 billion compared to $1.1 billion in November 2024 and $1.8 billion in October 2025.
— IANS
Reader Comments
Interesting data. While the headline numbers look strong, I'm a bit concerned that startup investments at $1.7B are still behind buyouts and real estate. We need sustained capital flowing into innovation and new companies to create the jobs of the future, not just asset trading.
Real estate being the top sector makes sense. With rapid urbanization and demand for quality housing/commercial spaces, this is a solid bet. Hope this investment translates into more affordable housing projects and not just luxury towers.
The report itself mentions global headwinds like Trump's policies and rupee depreciation. Given that context, reaching 88% of last year's investment is actually quite resilient. Shows the underlying strength of the Indian market.
Fundraises doubling year-on-year to $2.4B is the key takeaway for me. It means dry powder is building up for future deals. 2026 could be a big year if the momentum holds. Fingers crossed!
As someone watching from the US, this is a positive signal. The data suggests India remains a bright spot for investment despite global uncertainty. The focus on infrastructure is crucial for sustained growth.
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