IVCA-EY PE/VC Roundup 1H2026 (EY Swiss Fintech / Banking Barometer)

Summary

• 1H2026 recorded US$20.5 billion in PE/VC investments, 36% lower than in 1H2025 (US$31.8 billion).p.2
• The number of deals was 18% lower year-on-year, at 604 deals in 1H2026 versus 734 in 1H2025.p.2
• PE/VC exits stood at US$9.4 billion across 95 exits in 1H2026, 29% lower than in 1H2025 (US$13.1 billion).p.2
• Fundraising reached US$21.2 billion across 48 funds, a 109% increase year-on-year.p.3
• Growth investments led with US$7.0 billion invested across 111 deals, a 6% year-on-year increase in value.p.7
• Real estate was the top sector in 1H2026 with US$4.1 billion in investments, followed by technology with US$3.1 billion.p.2
• 1H2026 recorded 46 large deals aggregating US$13.0 billion, compared to 69 large deals aggregating US$22.9 billion in 1H2025, a 43% decline.p.7

Key insights

1. Pure-play PE/VC investments of US$14.2 billion declined by 29% compared to US$20.0 billion in 1H2025.p.2
2. Real estate and infrastructure investments declined by 47%, to US$6.3 billion from US$11.8 billion in 1H2025.p.2
3. The largest deal in 1H2026 was Blackstone, Bolt Ventures and others acquiring Royal Challengers Bengaluru for US$1.8 billion.p.7
4. Open market exits led with US$4.1 billion across 34 deals, accounting for 44% of total exit value in 1H2026.p.22
5. Exits through IPO totaled US$801 million across 12 IPOs, down 47% year-on-year.p.22
6. The largest exit in 1H2026 was Macquarie selling its toll road portfolio for US$1.6 billion.p.22
7. The largest fundraise of the half-year was Bain Capital's US$10.5 billion Asia Fund VI, surpassing its original target of US$7 billion.p.22
8. PE/VC investments in 2Q2026 reached US$7.3 billion, a 54% decrease from 2Q2025 (US$15.7 billion).p.31
9. The largest deal of 2Q2026 was CPPIB committing US$737 million to a CtrlS data center partnership.p.31