Business Daily from THE HINDU group of publications
Tuesday, May 13, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Tuesday, May 13, 2008 ePaper | Mobile/PDA Version |
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Update at 1400 hrs (IST)
Info-Tech IT sector gets $87 mn venture capital investments NEW DELHI: The IT and IT enabled services sector has emerged as the preferred space for venture capital investments in the country in the first three months this year, attracting over two-third of the total deals worth $144 million, a latest report says.
"With 14 deals worth about $87 millions, the Information Technology and IT-Enabled Services (IT & ITES) industry retained its status as the overwhelming favourite among VC investors during Q1 2008" according to latest report by research firm Venture Inte lligence Service. During the quarter, venture capital firms have invested 144 million dollars through 21 deals, a sharp decline compared to the corresponding period previous year that had recorded 28 deals worth $173 milllion. The maximum VC investment was attracted by online travel portal Cleartrip.com of about $18.5 million from DAG Ventures. Further, Deeya Energy attracted ($15 million) investment from New Enterprise Association, Soham Renewable Energy ($15 million) from D E Shaw and Ikya Human Capital ($8 million) from India Equity Partners. However, there has been a significant growth in terms of the deal size of the investments. "Online Services companies dominated the quarter accounting for a 75 per cent share of the invested capital," Venture Intelligence CEO Mr Arun Natarajan said. "About 10 out of 21 deals during the quarter came within the range of 5-10 million'' Mr Natarajan said. The same stood at six out of 28 deals within the range of $2-5 million. - PTI
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