A recently conducted study by Venture Intelligence, in partnership with the Global-India Venture Capital Association, has found that Venture Capital Firms invested around $117 million over 27 deals in India during the first half of current financial year. The VC firms invested $413 million across 67 deals during the first half of 2008.

Sudhir Sethi, the Director of GIVCA and founder, Chairman & Managing Director of IDG Ventures India, said: “While the uncertainty in global financial markets over last six months has affected VC firms investing in India as well, there are clear signs of revival over the last couple of months – especially in emerging markets like India.”

During the first half, Information Technology and IT-Enabled Services (IT & ITES) companies invested about $75 million through 14 deals. Thus, IT & ITES and online services companies again emerged as the favorite investment segments during the first half of 2009.

Similarly, there was a significant rise in investment in financial services, health care and education sector in H1 2009.

The Global India Venture Capital Association, a non profitable association, was earlier known as US-IVCA. It is an association of US-based venture capitalists who are interested in the emerging Indian market for prospective investments.