Of the overall private equity and venture capital investments of $61.6 billion in India, as much as 13 per cent or $7.9 billion came through the ESG route in 2022, as per an industry analysis. As the funding winter deepened from the first quarter of 2022 after the Russian invasion of Ukraine and the resultant risk aversion, the overall funding from PE/VCs into the country declined 12 per cent from the 2021 peak, when it had scaled $69.8 billion, according to a report by industry body Indian Venture and Alternate Capital Association (IVCA), prepared by Bain & Company.