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INTELLIGENCE
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SECTOR ANALYSIS
HEDGE FUNDS
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PRINT THIS PAGE US private equity and venture capital fundraising activity surpasses 2004 in three quarters18/10/2005. Source: AltAssets. 
 After three quarters this year, both US venture and buy-out and mezzanine funds have already raised more capital than in 2004, according to Thomson Venture Economics and the National Venture Capital Association.
Thus far in 2005 a total of $17.4bn was raised by 130 venture funds, while 122 buy-out and mezzanine funds raised $54bn. In the year 2004, $17bn were raised by 187 venture funds, and 130 buy-out and mezzanine funds received $51.7bn in commitments.
The private equity fundraising climate remained robust in the third quarter of 2005 with 45 venture funds raising $5.4bn (compared to the 53 funds raising $6.5bn in Q2 2005 and the 54 funds raising $4.8bn in Q3 2004) and 45 buy-out and mezzanine funds fetching $16.8bn (compared to 53 funds raising $23.5bn in Q2 2005 and 44 funds raising $13.6bn in Q3 2004).
'It will be a solid year for private equity fundraising as demand for this asset class continues to be extremely strong,' said Mark Heesen, president of the NVCA. 'We continue to see discipline on the venture side, with firms keeping close to their original targets despite ample opportunities to raise much more.
'We could have easily seen a $50-75bn fundraising year had the venture industry not exercised this prudence and accepted more money than could be invested successfully. The dollars that are being turned away from venture are likely being channelled into buy-out funds and hedge funds, helping to drive the surge of capital into those asset classes as well,' Heesen continued.
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