U.S. venture capital firms raised $4.4 billion for 53 funds during the third quarter of 2015, a decrease of 34% compared to the number of funds raised during the second quarter of 2015, and a 59% decrease by dollar commitments.
According to the Fundraising Report by Thomson Reuters and the National Venture Capital Association (NVCA), venture capital dollar commitments during the third quarter of 2015 decreased 33% compared to the third quarter of 2014 and marked the slowest three-month period for venture capital fundraising since the third quarter of 2013 when U.S. venture capital firms raised just over $4.38 billion.
There were 40 follow-on funds and 13 new funds raised during the third quarter of 2015, a 3.1 to-1 ratio of follow-on to new funds. The number of new funds raised during the third quarter marks a 61% decrease from the number of first-time funds raised during the second quarter of this year. The third quarter of 2015 marks the slowest quarter for first-time funds since the first quarter of 2013 when 11 first-time funds saw fundraising commitments.
The largest new fund reporting commitments during the third quarter of 2015 was from Boston, Massachusetts-based Silversmith Capital Partners I, L.P., which raised $460m for the firm’s inaugural fund and ranked as the top new fund raised during all of 2015.
Total commitments to U.S. venture funds in the third quarter of 2015 was led by Deerfield Healthcare Innovations Fund L.P., which raised $550m in the largest fundraising commitment of the third quarter.
Foresite Capital Fund III, L.P. raised $450m while Foundry Venture Capital 2016, L.P. raised $225m.
FinSMEs
07/10/2015