Private Equity Firms in India
20 private equity firms are on this list. Of those that report private fund gross assets from a main office in India, Kedaara Capital is the largest: $3.0 billion through Nish Capital Investment Advisors LLP (filed ).
National Investment and Infrastructure Fund (NIIF) follows with $2.3 billion. The 18 firms counted report $13.0 billion together; the ten largest hold 94% of it, and half report less than $181 million.
Updated . Rechecked quarterly; next check . Figures read , as filed to .
- $1BN to $5BN82%5 firms
- Under $500MM18%13 firms
Latest Form ADV of each, filed Apr 2026 to Jul 2026. Read ; sources at the end of the page.
- Private equity firms listedList of October 2026; 20 are private equity firms
- 20
- Combined fund assets18 counted; as filed to Jul 2026
- $13.0BN
- Median firmHalf of the 18 report less
- $181MM
- Held by the ten largestOf the $13.0BN combined
- 94%
Kedaara Capital, National Investment and Infrastructure Fund (NIIF) and 360 ONE Alternates lead the India private equity firms by fund assets
The ten largest by private fund gross assets on their latest Form ADV. Together they report $12.3BN, 94% of the $13.0BN the 18 counted report.
- 1
Kedaara Capital
Private equity firm, Gandhinagar
- 2
National Investment and Infrastructure Fund (NIIF)
Private equity firm, New Delhi
- 3
360 ONE Alternates
Private equity firm, Mumbai
- 4
India Resurgence Fund
Private equity firm, Mumbai
- 5
Multiples Alternate Asset Management
Private equity firm, Mumbai
- 6
Avendus PE Investment Advisors
Private equity firm, Mumbai
- 7
Lighthouse Funds
Private equity firm, Mumbai
- 8
Kae Capital
Private equity firm, Mumbai
- 9
Convergent Finance
Private equity firm, Mumbai
- 10
InvAscent
Private equity firm, Gandhinagar
Gross assets of the private funds each adviser reported in its latest Form ADV. Each pin opens the filing behind the figure; the ranking rule and sources are at the end of the page. Read .
One firm holds 23% of the fund assets
How the 18 firms counted spread by size: most are small, the dollars sit at the top.
One dot per firm counted. Read .
Fund assets each reported in its latest filing; shares are of the $13.0BN combined, one row per firm. Read .
23%
of the fund assets reported sits with one firm, Kedaara Capital. The five largest hold 82%; 13 of 18 report under $1 billion.
- Private equity firms20
Kind of each, from its own website and filings, checked October 2026.
- Mumbai14
- New Delhi3
- Gandhinagar2
- Bengaluru1
Main office on each firm's Form ADV.
Leaders beyond the ranking
Figures the main ranking does not compare: most private funds.
| Rank | Name | Figure |
|---|---|---|
| 1 | 360 ONE Alternates | 12Jun 2026 |
| 2 | Kae Capital | 6Jun 2026 |
| 3 | Kedaara Capital | 6Jun 2026 |
| 4 | Avendus PE Investment Advisors | 4Jun 2026 |
| 5 | JM Financial | 4Jun 2026 |
| 6 | Carpediem Capital | 3Jul 2026 |
| 7 | Alkemi Growth Capital | 2Jun 2026 |
| 8 | Amicus Capital | 2Jun 2026 |
The list is public. The warm path is not. Schedule a conversation
All 20 private equity firms
A to Z, with each firm's private fund gross assets, private funds, listed stocks and fund offerings, each with a pin to its filing; firms with no figure show the interests they state on their own sites.
Showing all 20 firms
The first 30 are shown here; find, a kind or a size shows every match.
No row matches. Clear the find field or choose All.
Fund assets are the gross assets of the private funds in the adviser's latest Form ADV (solid bar; grey when the firm is not in the totals). Listed stocks are the US listed securities a firm reports each quarter; fund offerings count the private offering notices of funds named for the firm in two years. Each pin opens the filing behind the figure. The square beside a name opens every figure with its filing and notes.
A few large advisers hold most of the money
Four findings from the filings of the 18 firms counted.
- 23%
of the $13.0 billion the 18 firms counted report is one firm's: Kedaara Capital. Without it, the other 17 report $10.0 billion.
Fund assets, latest Form ADV of each; sums of filed figures
- $181MM
is the median: half of the 18 report less, and 13 report under $1 billion.
Fund assets, latest Form ADV of each
- 53
private funds are advised by the firms counted; 360 ONE Alternates advises the most, 12.
Private funds on each Form ADV (Schedule D); sums of filed figures
- 12
of the 18 have their main office in Mumbai; the next place is New Delhi, with 3.
Main office on each Form ADV
Questions
How many private equity firms are there in India?
This list holds 20 private equity firms in India; 18 of them report private fund gross assets on Form ADV, $13.0 billion together.
What are the largest private equity firms in India?
By the private fund gross assets they report: Kedaara Capital $3.0 billion, National Investment and Infrastructure Fund (NIIF) $2.3 billion, 360 ONE Alternates $2.2 billion, India Resurgence Fund $2.2 billion, Multiples Alternate Asset Management $1.0 billion.
How much do private equity firms in India typically manage?
Of the 18 that report, the median reports $181 million in private fund gross assets; 13 report under $1 billion.
How do you start a relationship with private equity firms in India?
Each firm on this page links to its own website, and each figure carries a pin that opens the public filing it comes from. For fund managers and companies raising capital, Praxis Rock runs capital formation programs; see Raise Capital.
Sources and method
- Who is listed
- 20 private equity firms, 20 are private equity firms, as researched for this list; no row leaves the list. Private equity firms with their main office in India. Ranked: the 18 advisers that file Form ADV with the SEC and report at least one private equity fund, placed by the main office on their own filing. Also listed, A to Z with no figure: 2 firms that do not file Form ADV, each from its own website, which names its private equity business and its office here. This is not every private equity firm in India: a firm registered only with SEBI, India's securities regulator is listed only where we read its own site.
- Ranking rule
- The top 10, every total, share and median, the charts and the answers to the questions use one set: the 18 advisers that report private fund gross assets in their latest SEC Form ADV, with a main office in India, that the filing itself ties to the row (the CRD the list cites, or the row's own website in Item 1.I), one figure per adviser. A name match with no such tie is shown in the row's detail only, never ranked or counted.
- Our arithmetic
- The $13.0BN, the median, shares, charts and boards are sums and medians of filed numbers over that one set; 0 firms with a figure outside it stay listed with the figure and the reason.
- Pins
- Each figure's pin opens the filing it comes from: the adviser's Form ADV as filed, or the SEC filing index of its 13F report or of the latest private offering notice (Form D). The pin's label names the source and its date.
- What we searched
- On we searched every firm by its website against the websites advisers list on Form ADV, by the CRD the list cites, by name for Form ADV, and by every CIK found for 13F reports, and searched private offering notices for funds named for it. Of the 20, 18 report on a current Form ADV, 0 file 13F reports (0 for a 2026 quarter with a value), 0 have funds named for them in private offering notices, and 0 more show a possible match by name only in their detail, not counted.
- Words
- Kinds and interests are each firm's own, from its website. No person names are shown.
| Figure | Source | Period, read |
|---|---|---|
| Assets, private funds, client types, main office, employees | SEC Form ADV adviser data, October 2026 report, and each adviser's Form ADV as filed, 18 advisers | Filings to 2026-10-01; read 2026-10-31 |
| Listed stocks | SEC EDGAR Form 13F, 0 filers | Latest quarter; read 2026-10-31 |
| Private offering notices of funds named for a firm | SEC EDGAR full text search, Form D and D/A | 2024-10-31 to 2026-10-31 |
| Kind, interests and website | Each firm's own website, as researched for this list | Checked 2026-10-31 |
| Logos | Each firm's own website; a monogram where none checks | Read 2026-10-31 |
Cite as: Praxis Rock Advisors, "Private Equity Firms in India," updated October 31, 2026, praxisrock.com/resources/investors/pe-firms-india