New Delhi: According to Dow Jones VentureSource, venture capitalists (VCs) invested over US$ 13 billion in emerging economies, including India and China, in 2008, despite the global economic slowdown.

“The venture capital industry continues to rapidly globalise as investors are eager to find and tap new areas of innovation, especially in emerging economies,” Dow Jones VentureSource Director of Global Research, Jessica Canning, said.

According to VentureSource, India was the only region to see its deal size hold firm year-on-year, remaining unchanged at US$ 8 million in 2008. Further, investments into India-based companies rose 3 per cent to US$ 864 million in 2008 with 80 deals completed, up from US$ 842 million in 85 deals last year.

Most of the investments in 2008 were made in business and financial companies which accounted for US$ 368 million through 26 deals. While investments in energy and utilities went up by about 75 per cent to touch US$ 70 million, investments in the IT industry dropped in 2008.

In China, venture capitalists invested a record US$ 4.2 billion in 245 deals in 2008, up from US$ 2.8 billion in 290 deals in 2007.