New York, US, July 8, 2015 (GLOBE NEWSWIRE) -- U.S. venture capital firms raised $10.3 billion for 74 funds during the second quarter of 2015, an increase of 10 percent compared to the number of funds raised during the first quarter of 2015, and a 39 percent increase by dollar commitments, according to the Fundraising Report by Thomson Reuters and the National Venture Capital Association (NVCA). Venture capital dollar commitments during the second quarter of 2015 increased 27 percent compared to the second quarter of 2014 and marked the strongest three-month period for venture capital fundraising since the fourth quarter of 2007 when U.S. venture capital firms raised just over $10.4 billion.
Year/Quarter | Number of Funds | Venture Capital ($M) |
2006 | 236 | 31,107.6 |
2007 | 235 | 29,993.7 |
2008 | 214 | 25,054.9 |
2009 | 162 | 16,103.8 |
2010 | 176 | 13,283.6 |
2011 | 192 | 19,080.5 |
2012 | 217 | 19,844.9 |
2013 | 208 | 17,702.0 |
2014 | 263 | 30,711.3 |
2015 | 134 | 17,712.2 |
1Q'14 | 71 | 10,040.0 |
2Q'14 | 83 | 8,133.5 |
3Q'14 | 70 | 6,371.0 |
4Q'14 | 82 | 6,166.8 |
1Q'15 | 67 | 7,402.0 |
2Q'15 | 74 | 10,310.4 |
Source: Thomson Reuters and National Venture Capital Association
*Fund commitments closed across multiple quarters are represented as one fund in the annual totals
There were 43 follow-on funds and 31 new funds raised during the second quarter of 2015, a 1.4 to-1 ratio of follow-on to new funds. The number of new funds raised during the second quarter marks a 63 percent increase from the number of first-time funds raised during the first quarter of this year. The second quarter of 2015 marks the strongest quarter for first-time funds since the first quarter of 2014 when 32 first-time funds saw fundraising commitments.
The largest new fund reporting commitments during the second quarter of 2015 was from Palo Alto, California-based Geodesic Capital Fund I, L.P. which raised $250.0 million for the firm's inaugural fund. A "new" fund is defined as the first fund at a newly established firm, although the general partners of that firm may have previous experience investing in venture capital.
Year/Quarter | No. of New | No. of Follow-on | Total |
2010 | 53 | 123 | 176 |
2011 | 62 | 130 | 192 |
2012 | 74 | 143 | 217 |
2013 | 65 | 143 | 208 |
2014 | 101 | 162 | 263 |
2015 | 47 | 87 | 134 |
1Q'14 | 32 | 39 | 71 |
2Q'14 | 23 | 60 | 83 |
3Q'14 | 27 | 43 | 70 |
4Q'14 | 28 | 54 | 82 |
1Q'15 | 19 | 48 | 67 |
2Q'15 | 31 | 43 | 74 |
Source: Thomson Reuters and National Venture Capital Association
Total commitments to U.S. venture funds in the second quarter of 2015 was led by New Enterprise Associates 15, L.P., which raised $2.8 billion in the largest all-time early stage venture capital fund since records began in 1980. Institutional Venture Partners XV, L.P. which raised $1.3 billion and Social Capital Partnership III, L.P. raised $600.0 million.
Methodology
Effective November 1, 2010, Thomson Reuters venture capital fund data has been updated in order to provide more consistent and relevant categories for searching and reporting. As a result of these changes, there may be shifts in historical fundraising statistics as a result of movements of funds between primary market & nation samples and/or between fund stage categories.
About Thomson Reuters
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About National Venture Capital Association
Venture capitalists are committed to funding America's most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long-term investment. As the venture community's preeminent trade association, NVCA serves as the definitive resource for venture capital data and unites its nearly 400 members through a full range of professional services. For more information about the NVCA, please visit www.nvca.org.
CONTACTS |
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Ben Veghte NVCA 1.202.864.5923 bveghte@nvca.org Ilya Hemlin Thomson Reuters 1.646.223.5532 ilya.hemlin@thomsonreuters.com |
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