Executive Briefing
- Indian venture capital deployment expanded to $4.8 Billion in Q2 2026, registering three consecutive quarters of upward deal velocity.
- The median Series A valuation stabilized at $22 Million, up 15% from the cyclical trough of mid-2023.
- Domestic Indian family offices and sovereign wealth funds (NIIF, Temasek, GIC) co-invested in over 48% of late-stage growth rounds.
Quarterly Venture Capital Deployments ($ Billions)
Aggregated equity financing rounds across Indian startups
Q1 '25$2.1B (215 closed deals)
Q2 '25$1.8B (190 closed deals)
Q3 '25$2.5B (240 closed deals)
Q4 '25$3.2B (285 closed deals)
Q1 '26$4.1B (310 closed deals)
Q2 '26$4.8B (345 closed deals)
Core Empirical Findings
01.Deeptech and AI surpassed FinTech as the most funded seed-stage category for the first time in Indian venture history.
02.M&A exits provided $1.2B in liquidity, predominantly led by public internet incumbents (Zomato, Info Edge, MakeMyTrip).
03.Over 12 venture-backed tech startups filed Draft Red Herring Prospectuses (DRHPs) with SEBI for domestic IPOs on NSE/BSE.
Methodology & Audit Standards
Data synthesized from proprietary deal disclosures, regulatory MCA filings, SEBI venture fund registrations, and verified interviews with 85 active general partners across Bengaluru, Mumbai, and Delhi NCR.