January 12, 2015 / 8:17 PM / 5 years ago

U.S. venture funds raised $29.8 billion last yr, most since 2007

SAN FRANCISCO, Jan 12 (Reuters) - U.S. venture capital firms raised $5.6 billion last quarter and $29.8 billion for the year, making 2014 the richest year for venture fundraising since 2007, the National Venture Capital Association said.

A handful of large funds, including Andreessen Horowitz’s $1.5 billion fund announced in the first quarter, helped bump the total up almost 70 percent over the previous year’s total of $17.7 billion.

For the quarter, cash raised was up slightly compared with $5.58 billion raised a year earlier. Canaan Partners closed the largest fund of the three-month period with its $675 million Canaan X, followed by Formation 8 with its $500 million Fomation8 Partners II.

The healthy environment for exits, meaning venture-backed initial public offerings and acquisitions of venture-backed companies, helped the fundraising environment, said NVCA President Bobby Franklin.

Last week, the NVCA said that 115 venture-backed companies held IPOs last quarter, raising $4.36 billion. For the year, 115 companies raised $15.3 billion, compared with 81 companies raising $11.1 billion a year earlier.

Thomson Reuters contributed data for the report. (Reporting by Sarah McBride; Editing by Alan Crosby)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below