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China private equity funds raise $3bn in second quarter05/08/2008. Source: AltAssets. 
 In the second quarter of this year, 24 new private equity funds raised a total of $3.008bn, according to the China VC/PE Market Fundraising Report Q2 2008 released by ChinaVenture.
The number of funds was up 71.4 per cent from Q1 2008, while the amount raised was down 17.1 per cent. As a consequence, the average fund size was down 51.6 per cent from the first quarter of this year to $125m.
In Q2 2008, only two funds raised more than $500m, six funds raised between $500m and $100m and nine funds raised less than $20m.
Out of the 24 funds raising capital in the second quarter, 16 were venture capital funds. They accounted for $1.47bn of the fundraising total. In the buy-out segment, two funds secured $1.16bn, three growth funds accumulated $299m and three funds of funds accounted for a combined $79.01m of the capital raised.
A total of 12 domestic funds raised $436m, accounting for 14.5 per cent of the total amount raised.
ChinaVenture is an investment research and consulting firm.
Copyright © 2008 AltAssets
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