Every seventh startup that got funded last year had an India address even as overall funding activity was tepid for the first time in six years, says the Global Startup Deal Report for 2016 released by VCCEdge, the data analytics arm of News Corp VCCircle.
Only Europe and Canada were able to buck the weak funding trend in a year that saw a 12% drop in the number of deals and a massive 25% drop in their value.
The heady optimism of 2015 gave way to caution, correction and investor wariness in 2016, with investments falling and enthusiasm for startup funding waning significantly,” says the report, prepared in collaboration with VentureSource, Dow Jones’ global database on companies backed by venture capital and private equity. This risk-aversion, it says, was driven largely by a mix of global economic and socio-political changes.
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