Financial Services Industry
Industry: Email Alert RSS FeedUS venture industry braced for worst fundraising year on record.
Financial News, November, 2003
Byline: Caroline Meehan
Fundraising in the US took a further knock in this year's third quarter, reaching barely half the total raised for the same period last year, in what is set to be the worst year for fundraising in the industry's history.A total $5.7bn ([euro]5bn) was raised in the three months to September, bringing this year's total for the first nine months to $16.6bn from 74 funds, according to figures from Thomson Venture Economics and the US's National Venture Capital Association.
This compares with a total for 2002 of $34.7bn from 231 funds and $183.4bn from 789 funds in 2000, a record year.
The venture industry in Europe and the US has suffered more than the buy-out industry. US venture funds have been hit the worst because...
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