On Monday, the National Venture Capital Association had reported that U.S VC firms raised $12 billion across 57 different funds to invest in startups, calling it the largest amount raised in 10 years. KPMG and CB Insights did not specify a figure for the amount raised by firms, but called the billions raised the most since the dot com craziness of 2000. Regardless of the final amount, we’re talking about a vast amount of capital ready to be invested. For instance, Founders Fund raised $1.4 billion for a single fund while Accel raised $2 billion across a pair of funds.
But with VC firms so focused on fundraising, they were apparently too busy to do much investing. In fact, U.S. deal activity slowed in Q1 with just $14.8 billion invested across1,035 deals. (For all of North America, the numbers were only slightly better: $15.2 billion across 1,101 deals.)
Amassing war chests for the next round of tech investments. Start developing…