In October 2025, private‑equity and venture‑capital deals in India climbed to $5.3 billion, a 9 % jump over the previous month, largely thanks to a ten‑fold surge in private investments in public equity (PIPE) – according to a Friday report.
Financial‑services firms were the main driver, accounting for $2.9 billion of that total, with e‑commerce adding another $715 million, the joint study by Ernst & Young (EY) and the Indian Venture and Alternate Capital Association (IVCA) disclosed.
PIPE transactions topped the charts at $2.1 billion, up 981 % YoY, while startup funding followed closely at $2 billion, a 175 % surge year‑on‑year.
Across the board, financial services, e‑commerce and technology together made up 77 % of the monthly investment pie.
EY’s Vivek Soni, Partner and National Leader of Private Equity Services, noted that the month’s deal count dropped to 102 from 112 in the same period last year.
The report projects that the industrial sector will see strong demand in the near future, propelled by large‑scale infrastructure projects and government‑backed capital outlays.
It also highlighted that the shift toward renewable energy, along with steady demand for defense and automotive products, will be a key catalyst for growth across industrial portfolios.
Large deals constituted 70 % of total investment, encompassing nine transactions valued at $3.7 billion. Pure‑play PE/VC deals jumped 81 % YoY to $5 billion – the highest level in 13 months – while real‑estate and infrastructure spending fell 83 % to $291 million.
India’s PE/VC landscape is set for heightened activity, reflecting the mixed corporate picture revealed by Q2 earnings. Banking, IT and FMCG remain resilient, whereas commodities and manufacturing face margin and demand pressures.
“The Bihar election results and potential shifts in US trade policies under the Trump administration could positively impact capital flows and investor sentiment,” the report noted.
aar/pk
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