Source | m-economictimes-com.cdn.ampproject.org | ET Now
What sort of a dip have you witnessed in VC deals that have taken place in March and Feb 2020 versus what the trend was in the periods before that?
If you look at the March quarter, we had witnessed about $2.2 billion worth of VC deals that happened. Whilst it was slightly lesser than what happened in the December quarter, I think that was largely driven by the fact that there were no large ticket deals; a $750-$800 million ticket size kind of deal did not happen during that period. The full impact of COVID was still not felt.
I think in the March quarter, there were deals in the funnel which got consummated. I think the real challenge for us will be to see what happens in quarter two, which is the quarter of April to June wherein the full impact of COVID will be felt but another thing that I want to point out is that the total value of deals that happened in the world in the VC space was about $61 billion and India is less than 5% of that entire deals portfolio. So we had about $2.2 billion worth of deals right. With $190 billion of dry powder with VC funds awaiting to be invested, if you really ask me, I believe that over the course of this financial year, which is March 2021, India may actually come out to be a beneficiary rather than a loser.
What makes you so optimistic about India being able to attract all that international venture capital? Why do you believe that?
So, a couple of points.