CrunchFund Wasn’t the Only Newbie Fund Raised in Q3; Here Are 18 Others (slideshow)


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.

[slideshow]

[slide title=”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

[slide title=”No. 18: Focal Point Ventures Investment IV, L.P.”]
Firm Name: Focal Point Ventures LLC
Fund Name: Focal Point Ventures Investment IV, L.P.
Fund Location: Saint Charles, Illinois
Fund Stage: Balanced
Amount Raised in Q3 $M: $0.61
Amount Raised to Date $M: $0.61
Fund Size Target $M: $0.60

[slide title=”No. 17: Impact Ventures II, L.P.”]
Firm Name: City Light Capital
Fund Name: Impact Ventures II, L.P.
Fund Location: New York, N.Y.
Fund Stage: Balanced
Amount Raised in Q3 $M: $0.83
Amount Raised to Date $M: $24.78
Fund Size Target $M: n/a

[slide title=”No. 16: Resonant Fund I, L.P.”]
Firm Name: Resonant Venture Partners
Fund Name: Resonant Fund I, L.P.
Fund Location: Ann Arbor, Michigan
Fund Stage: Seed
Amount Raised in Q3 $M: $0.86
Amount Raised to Date $M: $1.37
Fund Size Target $M: $20.00

[slide title=”No. 15: Augment Ventures Fund I, L.P.”]
Firm Name: Augment Ventures
Fund Name: Augment Ventures Fund I, L.P.
Fund Location: Ann Arbor, Michigan
Fund Stage: Early
Amount Raised in Q3 $M: $1.00
Amount Raised to Date $M: $1.00
Fund Size Target $M: $20.00

[slide title=”No. 14: BHV Entrepreneurship Fund, L.P.”]
Firm Name: BHV VC LLC
Fund Name: BHV Entrepreneurship Fund, L.P.
Fund Location: New York, N.Y.
Fund Stage: Early
Amount Raised in Q3 $M: $1.08
Amount Raised to Date $M: $1.08
Fund Size Target $M: $10.00

[slide title=”No. 13: Nest-USA, L.P.”]
Firm Name: Nest-TN LLC
Fund Name: Nest-USA, L.P.
Fund Location: Tullahoma, Tennessee
Fund Stage: Early
Amount Raised in Q3 $M: $3.00
Amount Raised to Date $M: $3.00
Fund Size Target $M: $15.00

[slide title=”No. 12: Advancit Capital I, L.P.”]
Firm Name: Advancit Capital LLC
Fund Name: Advancit Capital I, L.P.
Fund Location: Norwood, Massachusetts
Fund Stage: Early
Amount Raised in Q3 $M: $3.20
Amount Raised to Date $M: $3.20
Fund Size Target $M: n/a

[slide title=”No. 11: Correlation Ventures Executives Fund, L.P.”]
Firm Name: Correlation Ventures, L.P.
Fund Name: Correlation Ventures Executives Fund, L.P.
Fund Location: San Diego, California
Fund Stage: Balanced
Amount Raised in Q3 $M: $3.38
Amount Raised to Date $M: $29.13
Fund Size Target $M: $29.10

[slide title=”No. 10: CIG Capital Partners, L.P.”]
Firm Name: CIG Corp.
Fund Name: CIG Capital Partners, L.P.
Fund Location: Southfield, Michigan
Fund Stage: Balanced
Amount Raised in Q3 $M: $5.23
Amount Raised to Date $M: $5.23
Fund Size Target $M: $25.00

[slide title=”No. 9: Level Equity Growth Partners I, L.P.”]
Firm Name: Level Equity
Fund Name: Level Equity Growth Partners I, L.P.
Fund Location: New York, N.Y.
Fund Stage: Balanced
Amount Raised in Q3 $M: $9.94
Amount Raised to Date $M: $130.00
Fund Size Target $M: $130.00

[slide title=”No. 8: Crunch Fund I, L.P.”]
Firm Name: CrunchFund
Fund Name: Crunch Fund I, L.P.
Fund Location: Mountain View, California
Fund Stage: Seed
Amount Raised in Q3 $M: $20.00
Amount Raised to Date $M: $20.00
Fund Size Target $M: $20.00
Reuters story here: High-Profile Tech Blogger Launches VC Fund

[slide title=”No. 7: Razor’s Edge Fund, L.P.”]
Firm Name: Razor’s Edge Management LLC
Fund Name: Razor’s Edge Fund, L.P.
Fund Location: Herndon, Virginia
Fund Stage: Balanced
Amount Raised in Q3 $M: $22.45
Amount Raised to Date $M: $43.82
Fund Size Target $M: $50.00

[slide title=”No. 6: Signal Peak Technology Ventures, L.P.”]
Firm Name: Signal Peak Ventures
Fund Name: Signal Peak Technology Ventures, L.P.
Fund Location: Salt Lake City, Utah
Fund Stage: Early
Amount Raised in Q3 $M: $24.28
Amount Raised to Date $M: $24.28
Fund Size Target $M: $24.30

[slide title=”No. 5: Hopen Life Science Ventures Fund II”]
Firm Name: Hopen Life Science Ventures
Fund Name: Hopen Life Science Ventures Fund II
Fund Location: Grand Rapids, Michigan
Fund Stage: Early
Amount Raised in Q3 $M: $25.00
Amount Raised to Date $M: $25.00
Fund Size Target $M: $50.00

[slide title=”No. 4: Freestyle Capital Fund I, L.P.”]
Firm Name: Freestyle Capital
Fund Name: Freestyle Capital Fund I, L.P.
Fund Location: Mill Valley, California
Fund Stage: Balanced
Amount Raised in Q3 $M: $27.00
Amount Raised to Date $M: $27.00
Fund Size Target $M: $30.00

[slide title=”No. 3: Siemer Ventures II, L.P.”]
Firm Name: Siemer Ventures
Fund Name: Siemer Ventures II, L.P.
Fund Location: Santa Monica, California
Fund Stage: Early
Amount Raised in Q3 $M: $30.00
Amount Raised to Date $M: $30.00
Fund Size Target $M: $30.00

[slide title=”No. 2: Mercato Partners Growth II, L.P.”]
Firm Name: Mercato Partners
Fund Name: Mercato Partners Growth II, L.P.
Fund Location: Salt Lake City, Utah
Fund Stage: Later
Amount Raised in Q3 $M: $49.52
Amount Raised to Date $M: $49.52
Fund Size Target $M: $98.00

[slide title=”No. 1: Raine Partners I, L.P.”]
Firm Name: Raine Partners
Fund Name: Raine Partners I, L.P.
Fund Location: New York, N.Y.
Fund Stage: Balanced
Amount Raised in Q3 $M: $72.50
Amount Raised to Date $M: $475.00*
Fund Size Target $M: $500.00
More peHUB coverage here: Raine Group’s Fund I Raises $475M
*Source of info: Rain Partners

[/slideshow]

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