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Venture funds step up joint deals

A third of 21 deals in November are syndicated. A bleak economic scenario coupled with difficulty in raising fresh funds is pushing venture capital firms in India to invest in groups. Earlier this month, Draper Fisher Jurvetson, Nexus Capital, Garage Technology ventures, the Mahindra group and social fund Gray Matters Capital invested $5 million in D.light design. Similarly, Unitus Equity Fund, Sequoia Capital, Lok Capital, Unitus Equity Fund II, India Financial Inclusion Fund and Sidbi together put $20.89 million in Ujjivan Financial Services. While this practice is already prevalent in ...