Chart of the week: Venture and growth funds growing

The average size of venture capital and growth equity funds has almost doubled since 2010.


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Andreessen Horowitz held a final close on its fifth flagship venture capital vehicle this week, dwarfing the size of similar vehicles.

Andreessen Horowitz V raised $1.5 billion, the same as its predecessor, but almost five times the size of the average venture capital fund to close in 2015.

PEI’s Research & Analytics team has looked into the average size of venture capital and growth equity vehicles closed since 2010, to determine whether funds of this type are increasing in size across the board.

In 2015, a total of $104.75 billion was raised from 310 venture capital and growth equity vehicles, at an average of $338 million per fund. This figure is nearly double 2010’s. So far in 2016, the average size stands at $275 million.

Andreessen Horowitz Fund V is the joint-largest fund to close this year, along with Accel Growth Fund IV.

However, Sino-Singapore Chongqing Connectivity Private Equity Fund and Medical Research Future Fund are both fundraising, targeting $15 billion and $14.8 billion respectively. If either of these vehicles closes on or above its target, 2016 average fund size may yet surpass last year.