Mumbai, India – November 6, 2025 — Leading private equity firm ChrysCapital has announced the close of its 10th flagship fund, ChrysCapital X, at $2.2 billion, making it the largest private equity vehicle ever raised by an India-based general partner (GP). The milestone underscores the growing global confidence in India’s investment landscape and ChrysCapital’s enduring appeal among institutional investors.
A Historic Raise with Global Backing
The fund represents a 60% increase over ChrysCapital’s previous fund, which closed at $1.35 billion in 2022. ChrysCapital X attracted over 30 new global investors, including public pension funds, insurance companies, asset managers, and family offices from regions such as Japan, the Middle East, and Southeast Asia Forbes India Fortune India.
Since its founding in 1999, ChrysCapital has raised nearly $8.5 billion across ten private equity funds, a continuation vehicle, and a public markets fund Forbes India.
Investment Strategy and Sector Focus
ChrysCapital plans to deploy Fund X over the next three to four years, with a pipeline of deals already in motion. The firm will continue its focus on consumer, financial services, pharmaceuticals, and enterprise technology, sectors that have consistently delivered strong returns and resilience in India’s fast-evolving economy Forbes India MoneyControl.
Managing Director Kunal Shroff emphasized the firm’s disciplined approach and long-term partnerships:
“We remain committed to backing high-quality businesses and founders, and to delivering consistent returns to our investors.”
Implications for India’s PE Landscape
The record-breaking fund signals a resurgence in India’s private equity market, buoyed by macroeconomic stability, digital transformation, and rising domestic consumption. ChrysCapital’s success also reflects a shift in global capital flows toward India-focused strategies, with increased participation from local institutional investors for the first time PitchBook.
Industry analysts view the fund as a bellwether for future mega-raises by Indian GPs, positioning the country as a mature and scalable PE destination.
In short: ChrysCapital’s $2.2 billion Fund X sets a new benchmark for India’s private equity sector, combining global investor confidence with a proven investment strategy. The raise highlights India’s growing prominence in global capital markets and the firm’s leadership in shaping its PE future.
Sources:
Forbes India; Fortune India; MoneyControl; PitchBook
