| SAN FRANCISCO
SAN FRANCISCO Jan 13 U.S. venture funds raised
$4.85 billion last quarter, up 53 percent from the same period a
year ago, but full-year 2013 fundraising fell 15 percent
compared to the year before.
For the full year, venture capital firms raised $16.7
billion, the weakest annual total since 2010, according to data
from the National Venture Capital Association and Thomson
Reuters released on Monday.
Some 48 funds were raised over the quarter, on par with a
year earlier. The last quarter of the year usually is the
slowest for venture fundraising. For the full year, 185 funds
were raised, down slightly from 208 in 2013.
"If the IPO market continues to strengthen and receive
quality offerings, we can expect more VCs involved in those
exits to raise money in 2014," said Bobby Franklin, the NVCA's
Last week, the industry said that venture-backed IPOs
totaled $5.3 billion last quarter, up from $1.4 billion a year
earlier. Mergers and acquisitions of venture-backed companies
totaled $5.2 billion, up from $4 billion a year earlier.
Generally, the trend of fewer funds collecting more of the
money is continuing. New York-based OrbiMed Private Investments
raised the largest fund of the quarter, at $699.5 million,
benefiting from an increase in interest in health sciences.
General Catalyst Group raised a $675 million fund.
The largest fund raised for the year was Facebook
backer Greylock's $1 billion fund.