PE/VC investments touch $5.3 billion in Oct, up 8%: EY-IVCA report

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The private equity (PE) and venture capital (VC) investments in India increased 8 per cent year-on-year (Y-o-Y) in value terms in October 2025. According to the EY–IVCA monthly roundup, the investments stood at $5.3 billion compared to $4.9 billion in October last year.

 

However, indicating that investors wrote larger cheques for fewer companies, the number of deals fell sharply, dropping to 102 compared to 112 deals in the corresponding period last year. A sector-wise split of investments in value terms shows that financial services ($2,920 million) stood at the top, followed by e-commerce ($715 million) and technology ($455 million).

 

In October this year, the report noted nine large deals totalling $3.7 billion, with the largest being that of International Holding Company, which acquired 43.46 per cent in Sammaan Capital for $1 billion.

 

The report also highlighted that private investments in public equity (PIPE) accounted for the largest share of PE/VC activity in October, with $2.1 billion deployed, marking a staggering 981 per cent increase Y-o-Y from $195 million earlier. It added that start-up investments ranked second with $2 billion invested in comparison to $884 million in the previous year, registering a 175 per cent Y-o-Y jump. PIPE is a way of raising capital for listed companies by selling shares to a select group of private investors.

 

In terms of exits, the month of October recorded 14 exits worth $640 million compared to $1.1 billion across 10 exits last year. The open market exits were the highest, totalling $234 million across three deals and accounting for 37 per cent of the total exit value. The largest exit during the month was that of Advent, which sold a 2 per cent stake in Aditya Birla Capital for $186 million.

 

On the fundraising side, the total funds raised in October stood at $1.8 billion compared to $209 million in October 2024 and $2.1 billion in September 2025.