9 months ago
India's PE-VC Investments Flat in November 2025
In November 2025, the amount of money invested by private equity and venture capital firms in India stayed about the same as the previous year.
However, there were some changes in where the money went.
More money was invested in older, more established companies, while less was invested in younger companies that are still growing.
This is because investors are being more careful and only putting money into companies they think will do well.
Some big investments happened, like a $1 billion investment in a company that uses artificial intelligence.
Overall, investors are willing to spend more money on the right companies, but there are fewer deals happening.
Private equity-venture capital (PE-VC) investments in India remained flat year-on-year in November 2025, with $3.09 billion across 107 deals compared to $3.18 billion across 95 deals in October 2024.
Late-stage investments saw a significant rise, with $1.6 billion across 16 deals in November 2025, up from $464 million across 12 deals in November 2024, driven by a $1 billion investment in TCS' AI data center business HyperVault.
Growth-stage investments dropped significantly, with $298 million across 28 deals in November 2025, down from $1.1 billion across 34 deals in the same month last year.
Mega deals (over $100 million) accounted for $2.25 billion in total investments across 5 deals, with notable investments including KKR and PSP Investments' $928 million buyout of Lighthouse Learning.
The average deal size for late-stage investments increased to $100 million in November 2025, up from $39 million in November 2024, while the average deal size for growth-stage investments decreased to $11 million, down from $33 million.
- Who
- Private equity and venture capital investors in India
- What
- Flat year-on-year investments in November 2025, with a rise in late-stage investments and a drop in growth-stage investments
- Where
- India
- When
- November 2025
- Why
- Investors are being selective and focusing on larger, more established companies, with a shift towards IPOs for growth capital
Key facts
- Total PE-VC Investments (Nov 2025)
- Total PE-VC Investments (Oct 2024)
- Late-Stage Investments (Nov 2025)
- Late-Stage Investments (Nov 2024)
- Growth-Stage Investments (Nov 2025)
- Growth-Stage Investments (Nov 2024)
- Mega Deals (Nov 2025)
- Average Late-Stage Deal Size (Nov 2025)
- Average Late-Stage Deal Size (Nov 2024)
- Average Growth-Stage Deal Size (Nov 2025)
- Average Growth-Stage Deal Size (Nov 2024)
- YTD PE-VC Investments (2025)
- Total PE-VC Investments (2024)
Quotes
Arun Natarajan
Founder, Venture Intelligence
“2025 is expected to close with a PE-VC investment value quite similar to that of 2024. The fall in the number of deals indicates that investors remain selective but are willing to bet larger amounts behind the right companies.”
thehindubusinessline.com
“In the near term, this healthy competition from the public markets will tend to keep PE investors focused on less expensive segments of the private markets.”
thehindubusinessline.com
