Venture fundraising remains anemic in 3Q

Venture fundraising remained anemic in the third quarter with 56 funds raising $4.1 billion, according to a study released Monday.

The dollar total was down 21% from the third quarter of last year and dollars committed during the first three quarters of the year are down 29%, according to the study from the National Venture Capital Association and peHUB publisher Thomson Reuters.

The figures suggest an annual fundraising total of about $15.5 billion, well below last year’s $19.7 billion.

The quarterly total of 56 funds was the highest in a year, but still down from the 60 funds that raised capital in the third quarter of 2012.

The largest fund completed in the quarter was Greylock XIV, at $1 billion, followed by Sequoia Capital U.S. Venture Fund XIV, which raised $552.9 million, the study found. The Greylock fund is the first venture fund to raise $1 billion or more this year.

Capital concentration continued during the quarter. The top five funds collected 58% of dollars raised.

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