.gif)
Venture Capital Firms Find it Tough To Raise Funding
By Anna Johnson on April 16th, 2009Only 40 venture capital funds raised new money during the first quarter of 2009, down from 71 during the first quarter of 2008, and fewer than the 47 in the final quarter of 2008.
Based on data from the United States’ National Venture Capital Association, just three of the 40 funds that raised more money were new.
The total amount of money raised was also down from 2008, with $4.3 billion raised in Q1 2009, 39 percent lower than the amount raised in Q1 2008. This was, however, more than the total amount raised in the last quarter of 2008 ($3.5 billion).
The big capital fund raisers during Q1 2009 were August Capital, which raised $650 million, Bain Capital, which raised $475 million, and Charles River Ventures, which raised a new $320 million fund.
