Venture Capital Funds in Market - June 2013

by Stuart Hunter

  • 17 Jun 2013
  • PE

There are currently 390 venture capital funds in market, collectively targeting $46bn in capital commitments according to Preqin’s Funds in Market database. Venture capital funds focusing on investments across all stages represent the highest proportion of capital sought, with 178 funds targeting $23bn in commitments. Solely expansion/ late stage funds are targeting the second highest collective capital, with 42 funds seeking to raise $10bn. Of these funds currently raising capital, 174 have held at least one interim close, collecting approximately $9bn in capital commitments to date.

Geographically, just fewer than half of the venture capital funds in market primarily focus on the North America, with 183 funds aiming to garner $23bn. Predominantly Europe-focused venture capital funds account for 21% of the total capital being sought, with 84 funds targeting to raise just under $10bn. The remaining venture capital funds in market consist of 76 primarily Asia-focused funds and 47 venture capital funds focusing on regions outside of North America, Europe and Asia.

The average target size of venture capital funds in market is $62mn, while the largest fund, Technology Crossover Ventures VIII, is seeking to raise $2.25bn. The fund is managed by Technology Crossover Ventures and specifically makes late stage investments in areas of technology such as internet, financial services, infrastructure, communications and software across North America. The largest Europe-focused venture capital fund, Green For Growth Fund, is targeting €300m and focuses on investing in energy efficient and renewable energy projects in Albania, Bosnia-Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Turkey. The largest Asia-focused venture capital fund in market, Asia Media & Technology Capital, seeks to raise $500m in capital commitments. The fund focuses on investing in media and technology companies in the Asia-Pacific region and aims to take advantage of the growth opportunities in China, Korea and India.

Over the past 12 months, 190 venture capital funds have held a final close, collecting aggregate capital commitments of $29bn. These funds have an average final close size of $161mn and two-thirds of the total capital raised was by funds predominantly focused on North America-based investments.

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