(1888PressRelease)
December 06, 2007 - Venture capital investment in India has skyrocketed in the first nine months of this year, new figures reveal.
According to figures from Dow Jones VentureOne and Ernest & Young, venture capitalists invested more than $777 million in 57 deals during the first three financial periods.
This represents more than a five-fold increase from the same period last year when $158 million was invested and is more than twice the annual investment record of $320 million set during 2005.
The lion's share of the deals (54 per cent) involved firms in the information technology sector, which accounted for $327 million of the total capital invested.
However, the majority of the investment went to India's business/consumer/retail industry, which garnered $376 million in 21 deals.
Dilip Dusija, Ernst & Young's venture capital advisory group leader in India said: "The median amount invested in a business/consumer/retail round of financing reached $12 million, double the median round size in IT.
"This reflects a significant trend reversal compared to 2006, when both industries showed a similar median amount invested of approximately $9 million."
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