VC investment in India on track despite market meltdown

MUMBAI: Venture capital investment in India, a good chunk of which comes from foreign investors, has been on track despite the ongoing financial turmoil in the world markets, top officials of the VC industry have said.

VC firms invested USD 290 million spread over 49 deals in India during the quarter ended September 30, Arun Natarajan, founder and CEO, Venture Intelligence, told reporters here today.

The investment in the September quarter was 36 per cent higher in volume terms and 15 per cent in value terms compared to corresponding period in the last year.

"The pace of VC investments in India seems to be accelerating dglobal financial markets," Natarajan said. Of CY 2008 stood at USD 678 million across 108 deals against U Sumir Chadha, Chairman of Global India Venture Capital Associationr deployment in Indian start-ups.

And about USD 2 billion of fundsnceded that the current market situation has made exit of VC investors from ted out the dowyrs felt the weakness in the market is no reason for the VC activets go down.