Venture capital firms turn to India with China’s tech crackdown

NEW DELHI: Venture capital investors have a new favorite developing market.

The value of venture deals in India surged to $7.9 billion in July, while China investments plummeted to $4.8 billion, according to data compiled by research firm Preqin.

That’s the first time the South Asian nation has surpassed its larger neighbor on a monthly basis since 2013, the firm said.

Caveats apply: One month of data may have limited significance since venture deal-making tends to be lumpy with bursts of activity followed by periods of lull.

China had already topped $65 billion in the first half of the year, suggesting its total for 2021 will likely exceed India’s.