PE-VC investments fell 3% y-o-y to $6.4B in Q2 2026, but mega deals rose to $3.8B. Early-stage average deal size doubled to $10M as growth-stage investment cratered, per Venture Intelligence.
Private equity and venture capital investments in India fell 3% in the June quarter to $6.4 billion, data from research firm Venture Intelligence showed.
The drop was steeper by deal count, with 266 transactions versus 309 a year earlier, the firm said. For the first half of 2026, total PE-VC inflows reached about $17.5 billion across 642 deals, down from $18.4 billion across 663 deals in the same period last year.
The headline decline masked a divergence in deal sizes. Mega investments worth more than $100 million rose to $3.8 billion across 17 deals, up from $3.6 billion across 15 deals in the year-earlier quarter. The largest single investment was Canada Pension Plan Investment Board's $732 million infusion into data centre platform CtrlS Data Centers. Fairfax Holdings bought a controlling stake in NBFC IIFL Capital Services for $384 million, and Carlyle acquired healthcare revenue cycle management provider EqualizeRCM for $300 million.
By sector, IT and ITeS remained the top draw, attracting $2.7 billion across 149 deals. Telecom, BFSI, healthcare and logistics followed.
For June alone, PE-VC investments stood at $1.83 billion across 91 deals, compared with $1.96 billion across 87 deals in the same month last year. Within the monthly total, early-stage companies raised $418 million across 42 deals, more than double the average deal size at $10 million versus $4 million in June 2025. Late-stage investments fell sharply to $952 million across 34 deals, with the average ticket dropping to $64 million from $25 million. Growth-stage investments cratered to $280 million from nearly $1.1 billion, though the average growth-stage deal edged up to $28 million from $23 million.
The data shows a market that is bifurcating. Early-stage investors are writing larger cheques for fewer startups, while growth and late-stage capital has become harder to raise outside the biggest names. The near-disappearance of growth-stage volume from June 2025 to June 2026 suggests that many mid-stage companies are either staying private longer or failing to attract new rounds. The uptick in mega deals, concentrated in data centres and financial services, points to institutional appetite for infrastructure and regulated finance rather than pure technology bets.
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