PE/VC investments during January to November declined by 8 per cent to $41.4 billion from $44.9 billion in 2019. Headline PE/VC investment performance in 2020 was significantly propped up by PE investments of $17.3 billion in Reliance Group entities which accounted for 42 per cent of all PE/VC investments in 2020. The IVCA-EY report said, If we were to exclude these one-off PE investments in the Reliance Group entities, PE/VC investments in 2020 would be significantly lower at $24.1 billion, a 46 per cent decline compared to the same period last year. In terms of volume, number of deals in 2020 for the January to November period declined by 11 pre cent compared to same period last year (852 deals in 2020 vs. 953 deals in 2019).