U.S.-based venture capital funds raised $5 billion in 2012's third quarter according to a Dow Jones press release that came out today, based on data compiled by Thomson Reuters and the National Venture Capital Association (NVCA).
That brings the total amount for the year's first nine months to $16.2 billion, a 31 percent increase over last year's total for the same time period, $12.4 billion.
The numbers for the quarter represent a 17 percent decrease by dollar commitments compared to the year's second quarter and a 23 percent increase in the number of funds over 2012's second quarter, with 43 funds.
Just five funds of the 53 represented accounted for 55 percent of the total fundraising for the quarter, down from 80 percent last quarter.
While noting a general trend toward more dollars in fewer funds, NVCA president Mark Heesen, nevertheless, appears to be encouraged by the latest report. "While more than half the dollars raised in this quarter were placed in five funds, it was less concentrated than previous quarters and allows for the disbursement of capital across a more diverse base of funds," Heesen is quoted as saying in the press release.
He added that the NVCA hopes this quarter's uptick reflects more confidence in venture capital funds as an asset class, rather than just being an anomaly.
Not surprisingly, venture capital funds were at a high in 2008 raising $24,966 billion. Since then total funds for the year have declined steadily until last year when they rose to $18,602 billion up from $13,569 billion in 2010.
Sixteen new funds were created last year, the largest of which is the San Francisco-based Forerunner's Partners 1, which raised $41.7 million for its inaugural fund.
Join the Conversation