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Venture Capital firms invest $508m in India during 200607/03/2007. Source: AltAssets. 
 Venture Capital firms invested $508m across 92 deals in India during 2006, according to a study by Venture Intelligence in partnership with the US-India Venture Capital Association. This was up from 44 deals totalling $268m in 2005.
With 64 deals worth about $367m, the IT and IT-enabled services sectors attracted the most attention from VC investors during 2006. Other popular industry sectors included financial services, manufacturing, healthcare and life sciences, and food and beverages.
Arun Natarajan, founder and CEO of Venture Intelligence, said, 'The strong return of Silicon Valley VC firms to India as well as the rising number of new India-dedicated VC firms gives confidence that this resurgence in VC investments is likely to be sustained.'
'Rising broadband internet access and booming mobile phone usage have enabled the take-off of several new business models that were not viable just a few years ago,' added Sudhir Sethi, director of US-IVCA and vice chairman and managing director of IDG Ventures India. 'A new generation of VC firms, staffed with executives with significant operating experience, are latching on to these new opportunities and
supporting Indian entrepreneurs with not just capital but also the company-building expertise and mentorship required to create lasting businesses.'
Copyright © 2007 AltAssets
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