Bain Capital, the global private investment firm, is set to significantly increase its investments in India, aiming to double its exposure over the next three years. Pawan Singh, Partner at Bain Capital Advisors India, revealed that the firm plans to focus on larger investments, often exceeding $500 million, in the rapidly growing Indian market.

Since launching operations in India in 2008, Bain Capital has invested over $7 billion, with approximately 70% of this amount in private equity and the rest in its Special Situations Fund. Globally, the firm manages assets totaling around $185 billion, with India and Japan representing over 50% of its assets.

David Gross, Bain Capital’s co-managing partner, had previously announced in early 2024 that the firm was on track to invest up to $10 billion in India over the next 3-5 years. Despite the current slowdown in the tech sector, Bain Capital sees significant potential in industries such as industrials, healthcare, pharma, and financial services. The firm has a proven track record in financial services, with recent exits from Axis Bank and L&T Finance Holdings, and a majority stake acquisition in Adani Capital.

In the past 18 months, Bain Capital invested around $2 billion in India. Although it has yet to make new investments in 2024, the firm is evaluating several opportunities, including potential transactions over $1 billion. Historically conservative in its investment approach compared to its global peers, Bain Capital plans to increase its investment size to over $500 million and potentially beyond $1 billion.

In the pharma sector, Bain Capital recently saw a partial exit from Emcure Pharma’s initial public offering and witnessed its portfolio company, 360 ONE WAM, raise $500 million in a secondary fund.