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Venture Capital Funds in Market – May 2012

by Laura Duce

  • 14 May 2012
  • PE

Preqin’s Funds in Market product shows that there are currently 132 early stage venture capital investment vehicles on the road, which are collectively seeking $11.5bn in capital commitments. Of these funds, 70 focus on North American investments, 32 primarily invest in European opportunities, and 30 funds predominately focus on the Asia and Rest of World regions. Almost half of all early stage funds in market are being raised by US-based fund managers, which account for 48% of the aggregate target capital being sought. Seventy two percent of early stage funds in market make all stages of early stage investment, 17% focus entirely on start-up investments, and 11% focus solely on seed investments.

Of these 132 early stage funds in market, 55 have already held at least one interim close, and aggregate commitments currently stand at almost $1.8bn. Eleven of these early stage vehicles have held an interim close since the beginning of 2012. The average target size of all early stage funds currently raising is approximately $87mn.

The three largest early stage funds in market are ARC Energy Fund VII, Lightspeed Venture Partners IX, and Pitango Venture Capital Fund VI, which are targeting CAD850mn, $675mn, and $350mn respectively. ARC Energy Fund VII has a Canada focus, and invests in the start-up oil and gas sector. Lightspeed Venture Partners IX has a global focus with a particular attention given to China, India and Israel-based companies within the IT, communications and media industries. Pitango Venture Capital Fund VI focuses on Israel-based healthcare, communications, clean technology and IT industries.

Over the past 12 months, 72 early stage vehicles have held a final close, collecting total commitments of approximately $9.4bn. The average final close size of these funds is $131mn, and 50% of these closed funds were focused on North America, accounting for almost 61% of all capital commitments.

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