Monday, July 13, 2009

VC Fundraising Drops to $1.7B

Thomson Reuters and the National Venture Capital Association reported this morning that venture capital fundraising dropped to only $1.7 billion in the second quarter of 2009, the smallest number of funds raising money in a single quarter since Q3 of 1996 and the lowest dollars committed since Q1 of 2003. 25 funds raised $1,701.9M in commitments in Q2, according to the report. Of the funds raising capital, 8 were new funds, 17 were follow-on funds. The largest fund raised in Q2 was by Domain Associated Management, which raised its $371.1M, Domain Partners VIII early stage fund.