Monday, April 13, 2009

Venture Capital Fundraising Slows

Forty venture capital firms raised $4.3 billion in capital in the first quarter, as only 40 venture capital funds closed funding during the quarter, according to the latest numbers released today by Thomson Reuters and the National Venture Capital Association. According to the two, the number of venture funds raising money was the smallest since the third quarter of 2003. However, the amount raised by those fund was an increase over the fourth quarter, when $3.5 billion was raised. Three of the funds were new funds; the remainder were follow-on funds. The largest fundraise of the quarter was for August Capital V, L.P, with $650M in committments.