**Private Deals Surge to $6.6 Billion in 2024 Amid Market Shift**
Private deals in 2024 have reached an impressive $6.6 billion, a slight increase from $6.3 billion reported on December 4. This growth reflects a significant shift in investor behavior, with a growing preference for control deals that allow for deeper operational involvement and clearer exit strategies.
As we approach 2025, a year anticipated to be marked by global uncertainty, industry experts are looking ahead to 2026 to help stakeholders prepare for upcoming trends. The current landscape indicates that while deal volume in the growth stage and private equity sector, particularly in the $30-100 million range, has risen compared to last year, the number of mega deals (those exceeding $100 million) in the Indian market has seen a decline. This trend is largely attributed to several late-stage startups opting to go public or gearing up for initial public offerings (IPOs).
Nishesh Dalal, partner and private equity leader at Deloitte South Asia, noted, “Despite strong deal volumes, the slight dip in aggregate value signals a more selective and disciplined market. Investors are increasingly focusing on control deals because they want deeper involvement in operations, tighter governance, and better clarity on exit pathways.”
Several technology companies have successfully gone public this year, having secured larger funding rounds in previous years. Notable examples include e-commerce platform Meesho, eyewear brand Lenskart, stockbroker platform Groww, home services provider Urban Company, edtech leader PhysicsWallah, and electric vehicle manufacturer Ather Energy.
Data from investment banking firm Avendus Capital indicates that private deals in 2024 have reached $6.6 billion, with ongoing deals still in progress. The firm reported that transactions in the $30 million to $50 million range increased to 39 this year, up from 27 in 2024. Similarly, deals between $50 million and $100 million and those over $100 million rose to 21 and 17, respectively, compared to 14 and 22 last year.
Avendus also highlighted that several deals are still pending closure as the year concludes. Neeraj Shrimali, managing director and co-head of digital, technology, and consumer investment banking at Avendus Capital, stated, “The private funding momentum picked up steam in the last two quarters, and 2025 will see both higher overall deal value and volume than last year.”
Conversely, data from Venture Intelligence shows a decline in overall growth-stage funding, dropping from $5.5 billion in 2024 to $5 billion as of December 1. However, this data only accounts for closed deals and does not include those currently in progress.
The correlation between the number of late-stage companies going public and the current funding landscape is evident, indicating a strategic shift in how investors are approaching the market.
**FAQ**
**What factors are influencing the current private deal landscape?**
The current private deal landscape is influenced by a shift towards control deals, allowing investors deeper operational involvement and clearer exit strategies, alongside a trend of late-stage startups opting for public offerings.
