Saturday, October 13, 2007

Venture Capital Fund Raising Is Down 11% from ’06

"Venture fund raising is down 11 percent for the first nine months of this year compared to 2006, according to the latest issue of Dow Jones Private Equity Analyst.However, despite shaky times on Wall Street, overall private equity fund raising is on the increase.Through September 30, private equity firms had raised $199 billion. And 405 funds are still “open,” seeking to raise another $165 billion, Private Equity Analyst reported Thursday.Some $19 billion has been invested in 102 venture funds, a total that is down from $21.3 billion for the same time period in 2006. That higher amount also was raised by a smaller number of funds – 89.Frontier Capital in Charlotte, N.C. bucked the downward trend with a newly raised fund of $115 million. Frontier had intended to raise $100 million. Meanwhile, in Raleigh, Hatteras Investment Partners has set a target of $500 million for its new fund. In Durham, Hatteras Venture Partners has raised $82 million in its new fund, and the target is $100 million."

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