Venture Capital Fundraising Activity - Q1 2008

Venture capital fundraising activity slowed in the first quarter of 2008, with 57 funds raising $6.3 billion, a 31% decrease in the number of funds raised compared to the first quarter of 2007. Follow-on funds dominated fundraising, with 52 follow-on funds raised compared to just 5 new funds. The ratio of follow-on to new funds was approximately 10-to-1 for the quarter, compared to less than 3-to-1 in the first quarter of 2007. The largest funds raised focused on balanced stage investments in life sciences and clean technologies.