Business Daily from THE HINDU group of publications
Tuesday, Oct 20, 2009
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Business Daily from THE HINDU group of publications Tuesday, Oct 20, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Venture Capital Venture capital firms invest $77 m in July-Sept Our Bureau Chennai, Oct. 19 Venture capital firms invested $77 million over 17 deals in India during the three months ending September 30, 2009. The amount invested during the period was significantly lower compared with the same quarter in 2008, which had witnessed $298 million being invested across 55 deals, but higher compared with the immediate previous quarter ($64 million across 17 deals). Sharp dropThe total VC investments in the first nine months of 2009 declined to $201 million (across 46 deals) against $709 million (across 124 deals) during the corresponding previous period, according to a study by Venture Intelligence in partnership with the Global-India Venture Capital Association. “The return of confidence in emerging markets, in general, and India, in particular, is now getting reflected in the quarter-on-quarter numbers,” remarked Mr Sudhir Sethi, Director of GIVCA and Founder, Chairman and Managing Director of IDG Ventures India. “Going forward, we expect the investing momentum to pick up even further,” he added. Among the largest investments reported during the third quarter of 2009 was the Lightspeed Venture Partners-led investment of Rs 50 crore (about $10 million) in Mumbai-based Itz Cash Card, India’s largest multi-purpose pre-paid card company. Existing investors of Matrix Partners India and Intel Capital participated. IT companiesInformation technology and IT-enabled services (IT&ITeS) companies accounted for 41 per cent of the investments during the third quarter ended September 30 (42 per cent by value). Helped by the continued interest in microfinance firms, the BFSI industry attracted $25 million across five companies, the study said. Education sector attracting pvt equities Venture capital to India slides 72% in first half Clean tech may attract $3.5 b from pvt equities More Stories on : Venture Capital | Software
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