U.S. venture capital fundraising fell 15% in 2013 vs. the prior year. According to Thomson Reuters and the National Venture Capital Association’s quarterly fundraising report, 185 venture capital firms raised $16.7 billion during the year, down from $19.6 billion in 2012 and $18.9 billion in 2011.
Of the 185 funds raised during the year, 53 were new (the first fund at a newly founded firm), while 132 were follow-on funds. The largest fund raised during the year, according to the report, was Greylock XIV LP, which raised $1 billion in 2013.