Private equity and venture capital (PE-VC) firms invested over $5.67 billion in Indian companies between July and September (calendar year) marking a 26% decline from the $7.63 billion invested during the same period last year, according to data from Venture Intelligence.
The number of deals during this period also decreased to 299 this year, from 339 in 2024. However, when compared to the April-June period this year, PE-VC deal value increased by 6%, while volume rose by 15% in CYQ3. CYQ2 recorded 261 deals worth $5.35 billion.
Mega deals slowdown: The core reason for annual decline
The drop in deal value is mainly due to fewer mega deals during CYQ3. This year, the July-September quarter saw 15 deals above $100 million worth $2.78 billion, compared to 20 such deals in the year-ago period worth $5.08 billion.
Top 5 Deals in Q3: The biggest investments of the quarter
The largest investment in CYQ3 this year was ChrysCapital’s $281 million buyout of bakery chain Theobroma. The $270 million investment by WestBridge Capital and Prosus Ventures in ride-hailing unicorn Rapido was the second-largest deal of the quarter.
This was followed by a $244 million buyout transaction in VIP Industries by Multiples PE and Kedaara Capital’s $240 million investment in life sciences-focused tech company Axtria. Partners Group’s acquisition of a majority stake in Infinity Fincorp, an NBFC, for $227 million was the fifth-largest deal during the period.