EY – Monthly PE VC Roundup, Feb 2024

In February 2024, PE/VC investments in India totaled US$2.2 billion, marking a significant decrease from the previous year. Despite the lower total investment, the number of deals increased by 111% year-on-year. Buyout investments were the highest segment, while startup investments saw a decline in value. The Indian PE/VC ecosystem benefited from buoyant capital markets, strong domestic demand, and robust exits in the first two months of 2024. Infrastructure, technology, and financial services were the leading sectors for investments in February 2024. PE/VC exits also showed a significant increase in value compared to the previous year, with open market exits being the highest valued. The growth of PE/VC-backed IPOs reflected the positive performance of the Indian capital markets, with companies seeing strong demand post-listing. Overall, the Indian markets demonstrated resilience amidst global uncertainties, with cautious optimism as the country heads into a general election cycle.