Both venture capital (VC) investment and the number of VC deals grew in India in the first quarter (Q1) this year, from $1.6 billion across 313 deals (Q4, 2023) to $3.2 billion across 354 deals in Q1 2024, a report showed on Monday.
Fintech continued to attract good attention, although at smaller deal values, according to the ‘KPMG Private Enterprise Venture Pulse’ report.
“As expected, India has seen an uptick in VC investments despite the deal activity being muted in Asia,” said Nitish Poddar, Partner and National Leader, Private Equity, KPMG in India.
“This will only increase in the coming quarters given our robust GDP growth, strong demographics and expectation of stable government at the Centre. AI, power tech, health tech and agritech are some key sectors to watch out for,” he added.