Venture capital in India reaches record

The Dow Jones VentureSource reports that venture capitalists invested $928 million via 80 deals in entrepreneurial companies in India, during 2007.

The figure represents a 166 percent increase over 2006, this is the highest total on record for the region.

“Service-oriented companies in India continue to attract investment and this is likely due to their low capital requirements as well as to the rapidly emerging nature of the broader Indian economy,” said Jessica Canning, director of global research for Dow Jones VentureSource.

Nearly 48 percent of all venture financing deals in India were with information technology companies, and Web-related, consumer and business services companies accounted for more than half.