What downturn? VC firms raised more money in second quarter - VentureBeat

Summary:
Despite tanking stockmarket and lack of IPOs in Q2 2008, fund raising by VC firms is up 3% from Q2 2007. The reason appears to be that investors see VC as a way to diversify now that many other parts of the economy are hurting. PE and later-stage investors, on the other hand, have been more impacted by stock market. Fewer VC firms have been raising money (a decline of 14%), although the proportion of new firms doing so has increased. (Published: 14/07/08)

Notes:

• $9.1b raised from investors in Q2 2008
• 3% more than Q2 2007 ($8.8b)
  
• despite stock market tanking
• cause: VC investing = long-term
• investors may see VC as a way to diversify now that many other parts of the economy are hurting
• PE and later-stage investors have been more impacted by stock market
• fewer VC firms raising money
• only 71 firms raised money
• decline of 14% from Q2 2007
• but: number of new firms raising money relatively high
• 22 firms raised money for the first time
• 49 "follow-on" funds by pre-existing firms were raised
• 1-2 ratio (compared to 1-4 ratio in Q2 2007)
• largest funds raised by
  
• Lightspeed Venture Partners VIII, L.P. (balanced stage; $800m)
  
• Foundation Capital VI, L.P. (early stage; $750m)
  
• Kleiner Perkins Caulfield & Byers XIII (early stage; $700m)