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 president.
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.
(Reporting by Sarah McBride; editing
by Meredith Mazzilli)
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