Business Daily from THE HINDU group of publications
Thursday, Dec 06, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Dec 06, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Venture Capital Five-fold rise in venture capital investments Our Bureau
Mumbai, Dec. 5 Venture capitalists invested more than $777 million in India in the period up to September 2007, according to the Quarterly India Venture Capital Report. This was nearly five times the $158-million invested during the first nine months of 2006 and more than twice the annual investment of $320 million in 2005, the report said. The report was published by Dow Jones VentureOne and Ernst & Young. According to the report, 54 per cent of all venture deals in India were for IT companies — accounting for more than $327 million worth of investment. Trend ReversalThe data also showed that service-oriented companies were also a popular draw for venture capitalists investing in India’s consumer or retail industry. Overall, the industry accounted for 21 deals and $376 million worth of investment in the first nine months of 2007. “This reflects a significant trend reversal compared with 2006, when both industries showed a similar median amount invested of approximately $9 million,” said Mr Dilip Dusija, Ernst & Young’s, Venture Capital Advisory Group leader in India. “One reason why service-oriented companies in India are so attractive to investors is because they often do not require a great deal of capitalisation to get off the ground,” said Ms Jessica Canning, Director of Global Research for Dow Jones VentureOne. More Stories on : Venture Capital | Economy
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