New Delhi, Jan 11 (IANS) The information technology (IT) sector has continued to attract a dominant share of private equity investments in the country during 2016, says News Corp VCCEdge's annual deals report.
"IT continued to attract a dominant share of private equity investments with 766 deals amounting to $3,158 million as investors reposed faith on dotcoms," the report by financial research platform of News Corp VCCircle said on Wednesday.
However, it pointed-out that compared to 2015, the sector saw a dip of 20 per cent in terms of number of deals and 50 per cent in terms of deal value.
"Internet software and services and application software companies attracted a total of 714 investments in CY2016, accounting for 93 per cent of the total investments in the sector," the report elaborated.
The consumer discretionary sector came in the second place in terms of number of deals. It clocked 228 deals amounting to $1,582 million.
"E-retail witnessed 107 deals and drove the deal activity during the year," the report said.
In terms of deal value, the industrial enterprises sector came in second place with 86 deals worth $2,992 million, while financials' sector bagged 81 deals worth $2,977 million.
In terms of states and territories, Maharashtra received the largest chunk of investments from private equity and venture capital investments with 303 deals worth $4,462 million.
"Karnataka came in second having attracted funding worth $2,518 million from 280 deals. Delhi NCR came in third with 190 deals worth $1,302 million," the report disclosed.
City-wise, the report revealed that Bengaluru overtook Mumbai in terms of number of private equity and venture capital deals with the former recording 277 deals worth $2,493 million, while Mumbai outscoring Bengaluru in value terms, registering 227 deals worth $4,338 million.
"Coming in third was New Delhi witnessed 165 deals amounting to $1,253 million while neighbouring Gurugram registered 110 deals worth $1,001 million," the report added.
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.