VC Fundraising Drops In Q3

Oct 26 2006 | 7:16am ET

Venture capital investment in the third quarter fell 8% from the second, according to PricewaterhouseCoopers and the National Venture Capital Association.

In 797 deals, VCs invested $6.2 billion. The prior quarter, $6.8 billion went into 907 deals. VC investing has topped $6 billion all three quarters of 2006 so far.

Seed and early-stage investing rose 10% to $1.2 billion during the third quarter.

“We are at a point in the investment life cycle where many venture capitalists are deploying fresh funds that have been raised within the last 18 months or so,” NVCA President Mark Heesen said. “Thus, VCs are finding themselves at the beginning of a very long runway, betting more on those seed and early-stage companies that they believe will have the most promise five to seven years from now.”

The report also showed that the telecommunications, media and entertainment, and industrial and energy sectors showed an increase in fundraising.

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