The National Venture Capital Association and Thomson Reuters issued their third quarter survey today for money raised by venture capital funds and the results seem to show a downward trend, perhaps slouching towards that startup winter we’ve been warned about.
According to the report, 52 U.S. VC funds raised $1.72 billion in Q3–the lowest dollar amount raised since Q3 2003. The report says, “This level marks a 53 percent decrease by dollar commitments and a 4 percent decline by number of funds compared to the third quarter of 2010, which saw 53 funds raise $3.5 billion during the period.”
Just 16 percent of that $1.72 billion was raised for funds based in New York. NVCA sent Betabeat a breakdown that showed $278.64 million raised by seven different local funds, with the largest amount going to RRE. That’s a big drop from the $2.866 billion raised by New York-based funds in Q1, 2011 and notable 40.3 percent drop from the $463.73 million raised by New York funds in Q2.
Firms Money Raised (USD Millions) in Q3
Raine Partners 72.50
RRE Ventures 137.40
Level Equity 9.94
Thrive Capital 40.00
City Light Capital 0.83
New World Capital Group 16.89
BHV VC 1.08
Keep in mind, however, that doesn’t include brand new players on the scene like NY-based early stages funds from Trigger Media Group and Tribeca Venture Partners or Union Square Ventures new $150 million to $200 million fund. Nor does it take into account the New York offices of outside VCs, like say, the $750 million global fund from RTP, whose managing partner Kirill Sheynkman just opened up shop in NYC.