SAN FRANCISCO, April 2 Underscoring investor
appetite for start-ups, venture-capital backed companies held 36
initial public offerings in the first quarter, more than any
quarter for at least five years.
The IPOs raised $3.27 billion, more than four times the
amount in the first quarter of 2013, according to the National
Venture Capital Association. For venture-backed companies, the
quarter was one of the strongest in recent years, topped only by
periods when outsized IPOs dominated markets.
Those included Twitter Inc, which raised $2.1
billion in November, Facebook Inc's $16 billion in May
2012 and Yandex NV raising $1.3 billion in May 2011.
Before that, Google Inc, which raised $1.7 billion in 2004, held
the record for the largest venture-backed IPO.
Healthcare-software company Castlight held last quarter's
largest venture-backed IPO, raising $204.2 million. Of the 36
offerings, two dozen were life-sciences companies.
The NVCA also said that 105 venture-backed companies were
acquired by others. Of the 29 that reported transaction values,
the average deal size was $259.2 million.
(Reporting by Sarah McBride. Editing by Andre Grenon)