The investments made by the Indian private equity (PE) and venture capital (VC) industry—including deals involving QIPs, or qualified institutional placements, participatory notes and transactions by hedge funds, mezzanine funds and proprietary funds—touched $19.5 billion, or some Rs76,900 crore, in 2007, overtaking the comparable investment in China, according to a recent report by research firm Four-S Services Pvt. Ltd. This represents a 156.6% growth over the $7.6 billion worth of investments made in 2006, said the Gurgaon-based company. Four-S’ estimate is higher than those made by others such as accounting and business advisory firm Grant Thornton India, which counted $17.14 billion in such investments between January and 15 December 2007, versus $7.8 billion in 2006. Four-S estimates PE/VC firms will invest $14-16 billion during 2008.
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