Blackstone to back neo-cloud infrastructure startup Neysa with $1.2 billion

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, in what 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 said. The capital is expected to fund the deployment of over 20,000 GPUs across India.