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.

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