I document the correlation between geopolitical risk and private equity investment in 18 major countries from July 2006 to December 2020 by two different fixed effect regressions and one dynamic fixed effect regression. Results show that the relative amount of private equity investment to GDP is not negatively related to geopolitical risk. However, it is negatively correlated to long-term lags in geopolitical risk factors. This finding is unlike its public investment counterpart and suggests that political uncertainty may affect private investment with a different mechanism.