Flipkart, Jio deals push VC inflows to $3.6bn in September quarter : Report

Despite the pandemic-driven recession, venture capitalists continued to invest dollars into the country with September quarter seeing investment inflows more than doubling to USD 3.6 billion over April-June, says a report.

In June quarter, which was marked by very strict nationwide lockdown, VC inflows stood at USD 1.5 billion, according to the data collated by KPMG, which also feels that the ongoing quarter will see more fund inflows.

But on annualized basis, the inflow has been tepid with only around USD 500 million of additional inflows into the country, shows the report.

Of the total USD 3.6 billion inflows, as much as USD 1.3 billion came into Flipkart from Walmart, which had bought out the former for USD 17 billion in August 2017.