Basil: “Can’t we get you on Mastermind, Sybil? Next contestant , Sybil Fawlty from Torquay, special subject: the bleeding obvious.”
The National Venture Capital Association and Thomson Reuters (publisher of peHUB) today released data showing that VC fundraising has declined from both the prior quarter and from the third quarter of 2007. Fifty-five U.S.-based firms raised approximately $8.12 billion in Q3 2008, compared to 76 firms raising $9.25 billion in Q2, and 78 firms raising nearly $8.6 billion in Q3 2007.
It’s worth noting that the Q3 tally was higher than what was raised in Q1 of this year, and that it’s higher than all but one quarter of 2006. On the downside, however, the Q3 capital was raised by fewer firms than in any time over the past few years, which means two things: (A) Fewer firms are raising larger funds; (2) Most of those fewer firms are existing firms, rather than new ones.
Download the press release here: q3fundraising. Deal data will be released this coming weekend.