What correction? Venture activity zips back to full speed in India, Southeast Asia.

It’s not only the United States’ venture capital market that is confusing the media.

Specifically, if we look at Asia, there are a number of conflicting public reports concerning its current fundraising climate. Depending on which article you read, you might think that it’s all gloom and doom, or believe that Asia’s startup ecosystem is on the verge of exponential growth.

Today, we’re going to crunch the numbers to figure out what’s actually happening.

To get a grip on what is going on in Asia, we’re going to look at Mattermark’s funding data of two startup ecosystem hotspots in Asia: India and the Southeast Asia region. Similar to an earlier approach at evaluating US venture market, we will look at both the aggregate capital deployed and number of deals as a proxy for the pulse of the startup market.

To kick things off, let’s start with India.

India

Here’s a historical measure, on a quarterly basis, of both total Indian deal volume and aggregate venture capital cash deployment.

Taking a closer look, here are the raw figures for the first quarters of 2015 and 2016, and the final quarter of 2015, giving us both year-over-year comparisons to recent performance and a sequential measuring stick.

Capital deployment in India continues to climb following its jump in 2014.

Compared to Q1 2015, Q1 2016 saw an increase in capital deployment by 31.8 percent. The pullback in funding that occurred in Q4 of 2015 has mostly recovered, with Q1 2016 putting up the highest total second only to Q3 2015.

Southeast Asia

Looking ahead