In 2024, mainland China had 48 private equity-backed acquisitions — excluding funding rounds — totaling US$4 billion, a 56% drop from the US$9.10 billion across 69 deals in the prior year, according to S&P Global Market Intelligence data. India recorded 41 private equity deals amounting to US$1.70 billion in 2024, about 45% lower than the US$3.10 billion from 33 deals in 2023.
According to S&P Global Market Intelligence, global private equity and venture capital investments in mainland China and India fell in 2024, contrasting sharply with the 25% annual increase in global private equity deal value. A bright spot for the two large economies has been exits, contrasting with worldwide private equity exits, which fell to a five-year low in 2024.
Additionally, according to Pitchbook, exits in Asia have been challenging, falling to US$98.7 billion ($133.76 billion) in 2024 from US$111.9 billion in 2023, and US$148 billion in 2022.
