The Australian: For VCs, China is passe. It’s India now, thanks to the growing internet and consumer wireless applications. The VC groups have apparently shifted their focus from China to India of late becasue of the “pull of India’s fast-growing market for internet and consumer wireless applications”. Even the international venture capital groups, who pulled out of the tech stock bubble in 2000, are back.
The head of the venture capital advisory practice at Ernst & Young, Gil Forer, said: “Since many of the Silicon Valley firms concluded their China strategy development last year, they will be able to devote more time to their India strategy. (US) east coast and European funds that have been more conservative about China than their Silicon Valley counterparts will likely initiate investment activity in India.”