U.S. venture-backed IPOs more than double y/y in Q3-survey

NEW YORK Fri Oct 1, 2010 7:32pm EDT

NEW YORK Oct 1 (Reuters) - The amount of money raised by venture capital-backed IPOs in the United States during the third quarter is more than double what it was a year earlier, according to a survey by Thomson Reuters and the National Venture Capital Association.

There were 14 venture capital-backed IPOs that raised $1.2 billion in the United States during the third quarter, compared with three IPOs that raised $572.1 million a year earlier, according to the survey.

Tech IPOs accounted for the majority of the offerings, with eight IPOs worth $749.3 million coming during the third quarter. The largest tech IPO of the quarter was Green Dot Corp (GDOT.N), which raised $164.1 million and whose shares are now trading at $48.85, 35.7 percent above their IPO price.

Eleven of the fourteen IPOs in the third quarter were trading flat or above their IPO price as of the end of September.

There are currently 49 venture capital-backed companies in the U.S. IPO pipeline. (Reporting by Clare Baldwin; editing by Carol Bishopric)

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