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Venture Capital Funds in Market Being Raised by US-Based Fund Managers – August 2012

by Stuart Hunter

  • 20 Aug 2012
  • PE

Currently, 173 venture capital funds in market are being raised by US-based fund managers, according to Preqin’s Fund in Market database. These funds are collectively targeting an aggregate $22.7bn in capital commitments.  Eight-nine percent of these funds have a primary geographic focus on North America, 1% predominantly target investments across Europe, and the remaining 10% focus on Asia and Rest of World. Of these funds currently raising, 62 have had at least one interim close, collecting $2.9bn in aggregate capital commitments to date. Breaking the funds down into venture types, early stage and venture general funds account for the largest proportion of the funds in market, making up 31% and 47% of the total respectively.

The average target size of the 173 venture funds is $131mn, with the largest fund on the road seeking $1bn. The three largest venture capital funds currently in market being raised by US-based fund managers are Mithril Capital Management I, GGV Capital IV and VantagePoint CleanTech Partners III, which are targeting $1bn, $600mn, and $600mn respectively. Mithril Capital Management I has a diversified industry focus, while GGV Capital IV focuses on the IT, software and technology industries and VantagePoint CleanTech Partners III focuses on the clean technology and energy industries. GGV Capital IV targets investments in China and the US, while the other two funds have a global investment focus.

Over the last 12 months, 85 venture funds raised by US-based fund managers have held a final close, collecting aggregate commitments of $21.9bn, with the average final close size amounting to $257.2mn.

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