Venture Fundraising Appears To Slip In The First Quarter

Venture fundraising fell in the first quarter despite the improving market for small company IPOs.

Forty-two funds raised $4.88 billion during the period, a 35% decrease in dollars from the first quarter a year ago and a 22% drop from the fourth quarter, according to data from the National Venture Capital Association and Thomson Reuters, publisher of this blog. The number of funds raising money slipped 9% from the first quarter last year and hit the lowest level since the third quarter of 2009.

Separately, figures Dow Jones released on Monday showed capital raised up 5% from last year. The difference between the two reports was not immediately apparent, though it is possible the NVCA and Thomson Reuters survey did not include the $1.5 billion Tiger Global Management fund raised in March.

The NVCA and Thomson Reuters said that Andreessen Horowitz raised a $1.5 billion fund and that both Canaan Partners and Bain Capital Ventures raise $600 million a piece. The top five funds accounted for almost 75% of the money raised, the report found.

The quarter saw 11 first time funds completed, including a $16.9 million one from Boulder-based Fraser McCombs Ventures.

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