26 August 2026
View in browser

GPCA RESEARCH

Private Capital Investment on the Rise

GPCA_Industry Data and Analysis_MY 2026_1

According to GPCA’s latest Industry Data & Analysis, private capital investment rose to USD94.7b in 1H 2026, up 23% compared to the first half of 2025, despite continued global volatility stemming from geopolitical clashes and energy supply disruptions.

GPCA Members can log in to download the Excel file for more data. GPCA’s Member Portal also includes the interactive Data Room & LP Intelligence platform, with detailed listings of investments, exits, funds and LP commitments.

For questions and feedback or to request custom data cuts from the research team, please contact research@gpcapital.org.

ACCESS THE DATA

GPCA EVENTS

Last Chance to Register: Webinar on How Private Capital Firms Are Putting AI to Work

27 August 2026 | 9 am ET, 2 pm BST

AVCA, GPCA & LAVCA - Articifial Intelligence in Practice Webinar Banner

GPCA, AVCA and LAVCA invite member firms to a virtual discussion on 27 August (9 am ET, 2 pm BST) that explores how private capital firms are applying AI across their organizations. Tune in to learn what firms are implementing today, where they are seeing tangible results, what has not worked, and the organizational, governance and risk considerations they have encountered along the way.

Speakers include:

Harish Belur, Riverwood Capital
Paulo Mattosinho, Boston Consulting Group
Saâd Bendidi, Mediterrania Capital Partners

REGISTER NOW

data_room___lp_intelligence_nw_banner__1_

INVESTMENTS

► Trustar Capital agreed to acquire China-based game developer Lingxi Games from Alibaba Group for more than USD2b. #Asia

► Motilal Oswal Group committed INR15b (~USD157m) to Inox Clean Energy, an India-based renewable energy platform, including INR10b (~105m) through compulsorily convertible debentures. #Asia

► Next Utility Ventures, Augment Infrastructure and Norfund led a USD129m Series C for Erco, a Colombia-based renewable energy generation and storage company. #LatinAmerica

► Granite Asia and HighLight Capital invested in a USD100m Series B for Aureka Biotechnologies, a China- and US-based AI drug discovery platform, with follow-on from Qiming Venture Partners, MPCi and NRL Capital. #Asia

► GEF Capital Partners led a USD63m equity investment in Yulu, an India-based electric mobility platform. The company also secured USD30m in debt financing, bringing its Series C to USD93m. #Asia

► Tata Capital Healthcare Fund III and Blue Earth Capital led an INR2.87b (~USD30m) investment in Tenet Diagnostics, an India-based diagnostics platform. #Asia

► Battery Ventures and Kevin Efrusy led a BRL150m (~USD29.2m) Series D for Flash, a Brazil-based workforce management platform, with participation from Endeavor Catalyst. #LatinAmerica

EXITS

► Amapá Minerals, a Brazil-focused gold mining company backed by Starboard Asset, raised CAD140m (~USD101.7m) through an IPO on the Toronto Stock Exchange. #LatinAmerica

► Bain Capital partially exited India-based auto components manufacturer Dhoot Transmission through an IPO on the BSE and NSE, raising USD321m. #Asia

► Temasek-backed Manipal Health Enterprises, an India-based hospital operator, raised USD960m through an IPO on the NSE, valuing the company at ~USD9b on its market debut. #Asia

► BCI, I Squared Capital, ADIA, IFC and Mubadala Investment Company exited stakes in India-based road infrastructure platform Cube Highways Trust for INR50b (~USD522.8m) through its listing on the BSE and NSE. #Asia

► Amethis exited Globex, a Morocco-based transportation and logistics platform. #Africa

► Temasek-backed Milky Mist Dairy Food, an India-based dairy products company, raised INR14.28b (~USD149.8m) through an IPO on the BSE and NSE. #Asia

FUNDRAISING

► Copenhagen Infrastructure Partners reached a ~USD3b final close for its second Growth Markets Fund and associated vehicles, focused on large-scale energy infrastructure projects across Eastern Europe, Asia and Latin America. #Global

► Kembangan Capital Partners reached a USD725m first close for its debut fund focused on private equity and venture capital investments across Asia, including USD500m for fund-of-funds investments and USD225m for direct and co-investments. #Asia

► Accel reached a USD550m final close for its new India fund focused on early-stage investments in AI, consumer, fintech, advanced manufacturing and deep tech. #Asia

► Ninety One reached a USD404m final close for its Africa Credit Opportunities Fund 3, focused primarily on senior secured private credit investments across Africa and other emerging markets. #Africa

► Patria Investimentos reached a BRL550m (~USD106m) final close for its fourth venture capital fund focused on technology and financial services companies across Latin America. #LatinAmerica

► Mirae Asset Venture Investments reached an INR11.25b (~USD118m) first close for Mirae Asset Venture Opportunity Fund II, focused on early-growth companies across technology, AI and software, deeptech, advanced manufacturing and consumer sectors in India. The vehicle has an INR18b (~USD188m) target. #Asia

PEOPLE & FIRMS

► Gaja Alternative Asset Management has raised INR5.5b (USD57.5m) through its IPO on the BSE and NSE, including INR4.5b in newly issued shares and INR1b through an offer for sale. The IPO makes Gaja the first listed independent Indian private equity firm. #Asia