Investment by Indian venture capital (VC) companies fell by over 71 per cent to $117 million during January-June 2009, as against $413 million during the first half of 2008.
During the period, the number of deals also fell from 67 to 27, a study released by Venture Intelligence and Global-India Venture Capital Association (GIVCA) said.
“While the uncertainty in the global financial markets over the last six months has affected VC investing in India, there are clear signs of revival over the last couple of months – especially in emerging markets such as India,” said Sudhir Sethi, director of GIVCA. He is also the founder and chairman and managing director of IDG Ventures India.
With 14 investments worth $75 million, Information Technology and IT-Enabled Services (IT & ITeS) companies accounted for 52 per cent of the deals (63 per cent in value terms) during H1 2009.
