US-IVCA renamed as Global India Venture Capital Association
Published on Mon, Oct 20, 2008 at 12:58 | Source : Moneycontrol.com
Updated at Mon, Oct 20, 2008 at 14:38
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US-IVCA renamed as Global India Venture Capital Association
The US-India Venture Capital Association announced that the association has been renamed as Global India Venture Capital Association. GIVCA will focus on promoting and strengthening Global investments into India and will now represent Venture Capital professionals from across the world
The US-India Venture Capital Association (US-IVCA) announced today that the association has been renamed as http://www.ventureintelligence.in ) in partnership with the Global-India Venture Capital Association (http://www.givca.org). This represents a 36% growth in volume terms over the corresponding period during the previous year (15% in value terms). During the immediate previous quarter, VCs had invested $165 million across 28 deals. The latest numbers take the total VC investments in the first nine months of 2008 to $678 million (across 108 deals) as against the $648 million (across 97 deals) during the corresponding period in 2007.
"The pace of VC investments in India seems to be accelerating despite the turmoil in global financial markets," noted Arun Natarajan, Founder & CEO of Venture Intelligence. "The enhanced pace of investment announcement by existing players as well as the entry of new funds has contributed to the growth this quarter."
