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VC investment in India significantly up to $238m in Q2 200821/08/2008. Source: AltAssets. 
 Venture capitalists invested $238m across 17 deals during the second quarter of 2008, a 120 per cent increase over the $108m invested in 12 deals during the same period last year, according to the Quarterly India Venture Capital Report released by Dow Jones VentureSource.
The lion's share of the amount invested, $89m or nearly 37 per cent of the region's quarterly investment total, went into five advertising/marketing companies.
Overall, India's business and financial services industry, which includes the advertising/marketing sector, received $131m invested (nine deals). Second in terms of capital invested was the IT sector, which recorded three deals and $33m worth of investment during the second quarter, a 55 per cent decline from the $73m invested in nine deals during the same period last year.
Jessica Canning, director of global research for Dow Jones VentureSource, said, 'We have seen deal activity in India hold steady for three consecutive quarters but this most recent quarter posted the second-highest investment total on record, due in large part to the $70m second round for Laqshya Media of Mumbai, the second-largest deal ever completed in India.'
Copyright © 2008 AltAssets
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