|HT|
India is receiving investment from venture capital firms from around the world, suggesting a breakout moment for the country's startups, Nikkei Asia reported on Sunday. It based the report on data from Tracxn, a startup tracker. Nikkei credited the development to loss in China's sheen, which is proving beneficial for India.The Nikkei report said that 211 funds made debut investments in India this year, 64 more than last year. Andreessen Horowitz, TCV, Vitruvian Partners and GSV Ventures are among then, the report further said.
Kleiner Perkins, the Silicon Valley fund that quit India in 2014, is back in the fray, it added.
Citing the overall data from Tracxn, Nikkei Asia said that 597 venture capital firms have made 2,284 deals so far this year.
Talking about the situation in China, the report said that Beijing's regulatory crackdown on its tech sector has dented its appeal as the first-choice investment destination for global venture capital in Asia.
According to Bloomberg, the campaign that started with Jack Ma’s twin giants - Ant Group and Alibaba Group Holding - last November soon spread to more companies like Tencent Holdings and Didi Global, as Beijing stepped up oversight on everything from antitrust to data security and wealth distribution. The crackdown triggered a sell-off that, at its most extreme, erased $1.5 trillion from Chinese stocks, which experienced wild swings with every new government probe, rule and warning, said Bloomberg.
(Except for the headline and the pictorial description, this story has not been edited by THE DEN staff and is published from a syndicated feed.)
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