The $59 billion invested by venture capital firms in the first three-quarters of this year is more than double the amount invested during the same period in 2013, a sign of growing economic optimism.

The $59 billion invested by venture capital firms in the first three-quarters of this year is more than double the amount invested during the same period in 2013, a sign of growing economic optimism, according to Preqin Research.

The sum has been invested in 5,272 deals globally in 2014 so far, compared to $37 billion invested in 5,940 deals over the same period in 2013. While activity for the third quarter is below that of Q2 2014, the amount of capital invested is 45% higher than during the same quarter in 2013.

Some 1,664 financings happened in Q3 2014, valued at an aggregate $19 billion. This represents an 8 per cent drop in the number of deals compared to the previous quarter, with a 16 per cent decrease in aggregate value. The number of deals in North America fell 6 per cent in Q3 2014 from the previous quarter, with a 26 per cent fall in aggregate value.

By contrast, there was a 16 per cent increase in deal flow in India, with 111 financings in Q3 2014 compared to 96 in Q2 2014.

The two largest venture capital financing rounds in Q3 2014 were both in Asia – the $1 billion investment in India-based Flipkart and the NZD615 million PIPE deal in China-based Beingmate Group Co.

The Alibaba Group’s $25bn IPO is the largest venture capital exit in Q3 2014, followed by the $1.7 billion trade sale of Seragon Pharmaceuticals.