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North America-Focused Early Stage Fundraising

by Kamarl Simpson

  • 09 May 2011
  • PE

Preqin data shows that there are 64 North America-focused funds currently on the road seeking aggregate commitments of USD 6.6bn. 34% have already had at least one interim close, and aggregate commitments stand at USD 638mn.

The largest North America-focused early stage fund currently in market is the Summit Partners Venture Capital Fund III which is targeting USD 500mn to invest in a range of sectors including information services, semiconductors and software.

Data from Preqin’s Fund in Market product reveals that 32 early stage funds focused on investment in North America closed in 2010 raising an aggregate USD 3.9bn. The largest early stage fund to close in 2010 was the Andreessen Horowitz Fund II. The USD 650mn vehicle, managed by Andreessen Horowitz, targets early stage investment, making opportunistic general venture and growth investments in the digital media, software and technology sectors.

As of May 2011, six North America-focused early stage funds have closed this year having raised a combined USD 2.3bn. The largest of these funds is Sequoia Capital 2010. The fund, managed by Sequoia Capital, raised USD 1.36bn.  Sequoia Capital 2010 focuses on early stage investments in the US and will also make early stage and growth investments in China.

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