NVCA Confirms Sinking Feeling: Fundraising Was Really, Really Bad Last Year
If you didn’t manage to raise a new fund last year, join the club. According to new data released this morning by the National Venture Capital Association and Thomson Reuters, 2009 can officially go on record as the lousiest year since 1993 (in terms of number of funds raised) or 2003 (in terms of dollars committed). A mere 26 first-time funds and 93 follow-on funds managed to close last year. To give you some perspective, that’s about one-third the number of first-time funds that have closed in each of the previous four years and roughly half the number of follow-on funds that investors have been assembling in recent years.
11 January 2010•1 min read
