VCs investing in India

In this 21 Feb 2008 report by Xconomy, the 2 leading New England VCs investing in India are Matrix Partners and Canaan Partners. A report from Dow Jones VentureSource shows that venture capital investment collected by entrepreneurs in India nearly tripled in 2007, totaling $928 million across 80 separate deals, as compared to just $349 million for 36 deals in 2006. It was “easily the highest total on record for the region,” according to the Dow Jones report. Some 48% of the funding went to information technology companies, and two IT-focused New England firms, Waltham, MA-based Matrix Partners and Westport, CT-based Canaan Partners, were among the top 10 venture firms sending money to India, closing five deals between them.

Here’s the list of the top 20 investors placing equity-based venture investments in Indian companies in 2007. (All data courtesy of Dow Jones Venture Source.)

Name Type of Fund Number of Deals
Draper Fisher Jurvetson Venture Capital 7
IDG Ventures India Venture Capital 6
Intel Capital Corporate VC 5
Sequoia Capital Venture Capital 4
Erasmic Venture Fund Venture Capital 3
Matrix Partners Venture Capital 3
Velocity Interactive Group Venture Capital 2
Canaan Partners Venture Capital 2
Carlyle Group Private Equity 2
SVB Financial Group Investment Bank 2
Clearstone Venture Partners Venture Capital 2
UTI Venture Funds Venture Capital 2
GVFL Venture Capital 2
Temasek Holdings Other 2
ICICI Venture Funds Management Venture Capital 2
Silicon Valley Bank Other 2
SIDBI Venture Capital Venture Capital 2
Individual Investors Angel Investor 2
New Enterprise Associates Venture Capital 2
Kleiner Perkins Caufield & Byers Venture Capital 2

Comment: Since quite a significant number of the VCs invested in IT-related companies, we’ll need to look at the details of the investments which are in cleantech sector later. DFJ is definitely one of the cleantech VC players in India, having established an office in Bangalore. What to invest in Incredible India?

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