India-focused funds sitting on highest-ever unallocated corpus of $12.9 bn

But does this mean that 2023 could be different, given the unutilised capital?

India-focused private equity and venture capital (PE/VC) players are sitting on unallocated capital of $12.88 billion — the highest since at least 2016 — according to investment data firm Preqin.

VCs focusing on India are holding unallocated funds, or dry powder, of $6.81 billion, according to Preqin data. This is one of the highest levels of dry powder that India-focused VCs have held at the end of a year. They held $3.7 billion at the end of 2016. The figure recorded this year is 20 per cent higher than the 2021 number and almost 39 per cent more than the 2020