MicroVenturesMoney raised by venture capital firms to fund startups is on the rise, but the number of venture capital firms raising that money is at a 16 year low.

The number fell by nearly a quarter, from 48 firms in the second quarter of 2010 to 37 firms in the second quarter this year, according to data compiled by the National Venture Capital Association and Thomson Reuters.

A total of 76 venture capital firms raised money in the first half this year, down 15 percent from the first half of 2010 when 89 venture capital firms raised money. 162 venture capital firms raised money in 2010, which is still down compared to 233 firms in 2007 and 212 firms in 2008.

The amount of money raised for venture capital funds grew 28 percent, up from $2.1 billion to $2.7 billion. The amount of money raised in the first quarter also beat the first quarter of 2010, with firms raising $7.6 billion — up 87 percent from $4.03 billion in the first quarter of 2010. Venture capital firms have raised $10.2 billion so far this year, up 67 percent when compared to the first half of the year in 2010.

Venture capital firm Accel Partners, which has invested in both Facebook and Groupon, accounted for most of the money raised in the second quarter this year. The firm raised $1.35 billion for its eleventh venture capital fund and second growth fund, it announced earlier in June. Compared to that, the largest new venture capital fund was only $120 million — raised by New York’s Level Equity Growth Partners.

VB TRansform 2020: The AI event for business leaders. San Francisco July 15 - 16

The second quarter of this year saw 24 follow-on venture capital funds raising money and 13 new venture capital funds created.