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Venture Capital Dry Powder – February 2013

by Louise Maddy

  • 20 Feb 2013
  • PE

Preqin’s extensive Fund Manager Profiles database lists over 3,600 firms that offer a venture capital investment strategy, either exclusively or as part of a wider investment focus. In the last decade, these venture capital firms have raised an aggregate $928bn with an estimated $276bn in uncalled capital. Of these firms, around 1,400 have an estimated $113bn in uncalled capital in February 2013, compared with $119bn in December 2011.

Breaking this down by region, as of February 2013 North America-focused funds have an estimated $64bn in capital commitments at their disposal, compared with the end of 2007 when these funds had an estimated $84bn in uncalled capital. Europe-focused funds have $17bn in February 2013, compared with $21bn in December 2007, falling by a similar proportion as North America-focused funds have over this period. However, estimated dry powder levels of Asia and Rest of World-focused funds have increased by 44%; in December 2007 the estimated uncalled capital was $23bn, compared with $33bn in February 2013.

According to Preqin’s Fund Manager League Tables, the venture capital firm with the largest amount of estimated dry powder is New Enterprise Associates, which currently has an estimated $2.7bn in uncalled capital. Tiger Global Management is just shy of $2.7bn in uncalled capital, and Kleiner Perkins Caufield & Byers has an estimated $2.6bn in dry powder.

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