In what has been a strong year for U.S. venture fundraising, 3Q saw a decrease in amount of capital raised ($4B) and number of funds closed (47), both dropping to levels that haven’t been seen since the first half of 2013. Although the quarter could be an outlier and a product of timing—considering some massive numbers since early last year—it’s also possible that LP enthusiasm for committing to new funds has slowed and they are now settling back, waiting for their money to either be put to work or returned so they can recommit. It should be noted that 87% of U.S. VC funds this year have hit their target, a record proportion.
To read more insights into VC fundraising, deal activity and more, check out our free 4Q U.S. Venture Industry Report: click here. PitchBook clients can access the VIR in the reports library of our platform; premium newsletter subscribers were also emailed a version of the report.