Venture capital flow up 75% by value in June quarter

Information technology dominated the space with 79% deals

The number of venture capital deals in India rose to 89 during the quarter ended June, as compared to 66 deals in the same period a year before, up 35%. Deal values rose a combined 75% to $425 million from $243 mn.

The number of exits were eight, valued at $419 mn, as compared to 11 deals valued at $112 mn a year before.

Of the total number of deals, the information technology sector had 79%. Health care was a distant second, with 7%.

Of all internet and mobile telephony deals, the shopping space witnessed the highest number at 25, followed by home services at eight, personal finance at seven, five in education and four in travel.

Crafts Villa raised $18 mn, Swiggy raised $16.5 mn, Coverfox $12 mn, Zopnow $10 mn and trucksfirst raised $10 mn.

Top fund closings included Sequoia Capital Fund IV's extension of $210 mn, Zodius & Avendus' first close of $110 mn and Unitus Seed Fund's rupee fund close of Rs 36 crore ($6 mn).