Fewer venture capital firms are raising money

April 14, 2008 | Matt Marshall

Fewer venture capital firms raised new money during the first quarter than any period over the past two years.

However, the National Venture Capital Association, which published the data, said it does not believe the decline is related to the economic downturn. Rather, many firms raised money within the last several years, and they are now in the process of investing the money, it said.

Also, while only 57 raised new funds during the first quarter, they raised about the same amount in total as the 83 firms that raised money during the same period last year.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.