India’s venture capital and private equity investment fell to $2.7 billion across 83 deals in April 2026.

Deal count also hit a 29-month low, according to a report by IVCA and EY.

Fundraising also fell to $646 million across six deals, the lowest monthly total since December 2024.

EY said the rupee’s fall to about 96 rupees (US$1) per US dollar, high oil and gas prices, geopolitical tensions, valuations and seller expectations weighed on foreign investor sentiment.

The report said investors were deploying capital more slowly as they waited for clearer signs of sustained economic momentum and a correction in valuations.

Real estate led in April with $699 million, helped by ICICI Prudential Alternatives’ $283 million investment in two RMZ office assets in Bengaluru and Pune.

Financial services drew $440 million, while technology attracted $361 million.

The month’s nine biggest deals totaled $1.7 billion.

🔗 Source: YourStory