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Venture Capital Funds in Market - March 2013

by Laura Duce

  • 04 Mar 2013
  • PE

There are currently 370 venture capital funds in market, collectively targeting $50bn in capital commitments. Of these funds, 173 primarily target North America, representing 53% of the collective target size of all venture capital vehicles on the road. Eighty of the 370 funds have a focus on European investments, accounting for approximately 22% of the collective target, and 76 funds primarily target Asian investments. Forty-one funds are being raised for Rest of World investments, including five diversified multi-regional funds.

Of these 370 venture capital funds in market, 179 are being raised by US-based fund managers, collectively targeting $26bn in capital commitments. This is followed by 21 Chinese GPs with an aggregate target of $3.1bn. Eleven funds are being raised by Russia-based fund managers, representing the third largest collective target by fund manager location of $2.7bn.

To date, 179 venture capital funds in market have held an interim close, collecting $9.8bn in investor commitments. The average target size of venture capital funds currently on the road is $136mn. As expected, venture capital funds focusing on investments across all stages are targeting the highest total capital, with 170 funds targeting $26bn in commitments. Expansion/late stage funds are targeting the second highest collective capital, with a total target of $12bn.

The three largest venture capital funds in market are Technology Crossover Ventures VIII, InSight Venture Partners VIII and Dutch Technologies Media Telecommunications & Infra Fund, targeting $2.5bn, $1.75bn and €1bn respectively. The two largest funds focus on North America-based investments, and Dutch Technologies Media Telecommunications & Infra Fund has a European focus.

Over the past 12 months, 176 venture capital funds have held a final close, collecting aggregate capital commitments of $25bn. These funds have an average final close size of $142mn and 63% of the total capital raised was by funds focused on North America-based investments.

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