Q1 Deal Pulse: Mid-Market Activity Gains Momentum

Overview

The first quarter has seen a noticeable pickup in mid-market deal activity, driven by improving investor sentiment and increased deployment pressure from private capital.

Across sectors, deal conversations have moved from exploratory to execution-ready, particularly in industries with strong domestic demand visibility.

Key Highlights

• Increased inbound interest from private equity funds targeting platform investments
• Higher promoter openness to structured exits and minority stake sales
• Valuation stability returning after recent periods of correction

Sector Watch

Healthcare & Pharma
Continued consolidation, especially in diagnostics and specialty clinics.

B2B SaaS
Selective investments in profitable, niche platforms with global exposure.

Manufacturing
Strong interest in export-oriented businesses aligned with global supply chain diversification.

What We’re Seeing on the Ground

• Buyers are prioritizing profitability over pure growth
• Due diligence cycles are becoming more rigorous and data-driven
• Deal timelines are improving, but quality of preparation remains critical

Outlook

We expect momentum to continue into the next quarter, with increased activity in:

• Buy-and-build strategies
• Cross-border acquisitions
• Structured minority deals