Slideshow: Top 10 VC Funds for What’s Shaping Up as a Weak Q3

The VC fundraising environment is looking weak, with just a smattering of announcements and regulatory filings over the past two months.

Official Q3 stats won’t be released until October, but it’s not looking good from an anecdotal standpoint. Trolling through the peHUB archive, I turned up just five stories about various U.S.-based VC funds getting raised since the end of Q2 — and none of those funds topped $100 million. Unless some big stealth funds come out of the woodwork, I think Q3 will have a very hard time matching the third quarter of last year, when 54 U.S. venture funds collectively raised $3.6 billion, according to Thomson Reuters (publisher of peHUB).

If Q3 turns out to be a dud, it may be because the first quarter was so strong, with 42 funds raising $7.75 billion. That amount was more than twice the size of each of the prior three quarters and the biggest quarter since Q3 2008.

It is also worth noting that for the first half of this year, U.S. venture funds have raised $10.52 billion, $800 million more than the $9.72 billion they raised in the first nine months of last year, according to Thomson Reuters.

In putting together the following slideshow, I couldn’t help but notice that nine of the 10 largest funds raised between July 1 and Aug. 30 are based outside of Silicon Valley. (I blogged about a similar trend last month with regard to first-time VC funds raised in Q2.)

Of the nine non-Silicon Valley funds, all (with the exception of a fund based in New York) are located in states you wouldn’t normally use in the same sentence as VC, such as Georgia, Michigan, North Carolina, Ohio, Tennessee and Utah.

(Fundraising data for the following slideshow are for the period of July 1 to Aug. 30. All data are provided by Thomson Reuters.)

[slideshow]

[slide title="No. 10: Northern Light Partners Fund III LP"]

Firm Name: Northern Light Venture Capital
Location: California
Fund Stage: Balanced
Raised in Q3: $5.05M
Raised to Date: $5.05M
Target: $5.10M

[slide title="No. 9: Stonehenge Capital Fund Illinois II LLC"]

Firm Name: Stonehenge Growth Capital
Location: Ohio
Fund Stage: Balanced
Raised in Q3: $10.50M
Raised to Date: $10.50M
Target: $10.50M

[slide title="No. 8: Fulcrum Growth Fund II LLC"]

Firm Name: Fulcrum Ventures
Location: Georgia
Fund Stage: Later
Raised in Q3: $11.07M
Raised to Date: $41.37M
Target: $130.00M

[slide title="No. 7: FCA Venture Partners V LP"]

Firm Name: Clayton Associates LLC
Location: Tennessee
Fund Stage: Early
Raised in Q3: $12.80M
Raised to Date: $12.80M
Target: $100.00M

[slide title="No. 6: Signal Peak Technology Ventures LP"]

Firm Name: Signal Peak Ventures
Location: Utah
Fund Stage: Early
Raised in Q3: $24.28M
Raised to Date: $24.28M
Target: $24.30M
Additional peHUB coverage here.

[slide title="No. 5: Hopen Life Science Ventures Fund II"]

Firm Name: Hopen Life Science Ventures
Location: Michigan
Fund Stage: Early
Raised in Q3: $25.00M
Raised to Date: $25.00M
Target: $50.00M
Additional peHUB coverage here.

[slide title="No. 4: Frontier Fund III LP"]

Firm Name: Frontier Capital LLC
Location: North Carolina
Fund Stage: Later
Raised in Q3: $35.70M
Raised to Date: $80.70M
Target: $200.00M

[slide title="No. 3: Thrive Capital Partners II LP"]

Firm Name: Thrive Capital Partners LLC
Location: New York
Fund Stage: Early
Raised in Q3: $40.00M
Raised to Date: $40.00M
Target: $40.00M

[slide title="No. 2: Cross Creek Capital Partners II LP"]

Firm Name: Cross Creek Capital
Location: Utah
Fund Stage: Balanced
Raised in Q3: $59.48M
Raised to Date: $59.48M
Target: $75.00M

[slide title="No. 1: Hatteras Venture Partners IV LP"]

Firm Name: Hatteras Venture Partners (FKA: Catalysta Partners)
Location: North Carolina
Fund Stage: Seed
Raised in Q3: $74.00M
Raised to Date: $74.00M
Target: $125.00M
Additional peHUB coverage here.
[/slideshow]

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