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Blackstone, co-investors bet $1.2-bn on Neysa, one of the biggest deals in Indian AI
- IBJ Bureau
- Feb 16, 2026
Blackstone-affiliated private equity funds and co-investors have entered into definitive agreements to invest $1.2 billion in Neysa, the artificial intelligence cloud platform founded by Netmagic’s Sharad Sanghi. This deal marks one of the largest private capital commitments in India’s AI infrastructure sector.
The deal is structured as $600 million in equity – led by Blackstone with participation from Teachers’ Venture Growth, TVS Capital, 360 ONE Assets and Nexus Venture Partners – and an additional $600 million in debt financing that Neysa intends to secure on the back of the equity commitment, subject to documentation, the company has said. The capital is expected to fund deployment of over 20,000 graphics processing units (GPUs) across India.
Neysa had previously raised $20 million in seed funding in early 2024, led by Matrix Partners India (now Z47), Nexus Venture Partners and NTTVC. It had followed that with a $30-million Series A round in October 2024, co-led by the same investors.
Amit Dixit, the head of Asia private equity of Blackstone, has said that the deal reinforces the firm’s focus on backing “the essential picks and shovels of AI globally, including in India, a key market for Blackstone”. Blackstone’s portfolio in AI infrastructure already includes QTS, AirTrunk, CoreWeave and Firmus.
Ganesh Mani, the senior managing director in Blackstone’s private equity division, has said that digital infrastructure is one of the firm’s highest-conviction investment themes. “This investment positions Neysa to play a meaningful role in advancing AI infrastructure in India and enables businesses and public institutions to deploy AI technologies more effectively,” he has added.
Neysa’s flagship AI acceleration cloud platform, Velocis, provides on-demand, GPU-based computing for training, fine-tuning and deploying AI workloads. Its customers span financial services, technology, healthcare and public services.
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