Photo by Robert Scoble.

Photo by Robert Scoble.

Michael Arrington’s controversial CrunchFund got the most press in Q3, but it didn’t break into the top five largest first-time VC funds raised during the period.

In what was a weak quarter for overall VC fundraising, CrunchFund was one of 19 newbie that funds raised a combined $300 million, the lowest quarterly amount raised since Q4 2009, when 11 funds raised $39 million, according to Thomson Reuters (publisher of peHUB).

By comparison, 15 first-time funds raised $384 million in the second quarter and 13 first-time funds raised $442 million in Q1. The largest quarter for first-time funds in the past five years was Q2 2008, when 26 newbie funds raised $1.3 billion.

On a bright note, the 19 funds that raised capital in Q3 have raised a combined $828 million to date, which is the second largest amount raised by first-time funds since Q3 2008.

Which fund raised the largest amount in Q3? How much capital did a first-time fund in Tullahoma, Tenn., raise? Which state besides California is home to four first-time funds (and it ain’t New York)? Watch our slideshow to find out.

Subscribers to Venture Capital Journal can click on the following link to get a complete list of all 52 funds raised in the third quarter.

No. 19: Cornerstone Opportunity Partners LLC

Firm Name: Cornerstone Angels
Fund Name: Cornerstone Opportunity Partners LLC
Fund Location: Northbrook, Illinois
Fund Stage: Early
Amount Raised in Q3 $M: $0.10
Amount Raised to Date $M: $0.10
Fund Size Target $M: $2.00

Related posts:

  1. Slideshow: 15 Largest U.S.-based Venture Funds Raised in Q3
  2. Slideshow: Top 10 Largest VC Funds Raised in Q1
  3. Slideshow: LPs Keen to Back Newbie VC Funds Outside of Silicon Valley
  4. Slideshow: Top 10 Buyout/Mezzanine Funds Raised in Q1
  5. Slideshow: Top 10 VC Funds for What’s Shaping Up as a Weak Q3