EETimes.com - Indian VC activity declined in 2005, says report

"Private equity and venture capital firms invested about $1.5 billion in 125 Indian companies during 2005, slightly down on the year before, according to an AltAssets report that referenced Venture Intelligence India, as its source.
The 2005 Indian VC activity represented a slight decrease from 2004 when 129 companies raised $1.6 billion. A total of 63 out of the 125 companies closed rounds of over $10 million, the report said.
�In today's investment climate, Silicon Valley VCs tend to like technology companies with a cost-effective offshore component. Companies with Indian founders are well equipped to leverage their India connections and quickly set up strong R&D or back-end operations in their country of origin,� the report quoted Arun Natarajan of Venture Intelligence India, as saying. "