Venture capital fundraising could hit $100 billion, NVCA-Pitchbook says

Venture capital firms are raising a record amount in 2018 and are on pace to top $100 billion for the year, according to the latest report by the National Venture Capital Association and PitchBook.

Firms have closed 6,583 deals worth $84.3 billion in the nine months ended Sept. 30, a record amount of capital for the first nine months of a calendar year, the report said. By comparison, in all of 2017, 9,253 deals worth $82 million were closed.

The trend of larger venture fund sizes is continuing in 2018. Of the 214 funds the report tracked with a known fund size, 41,6% of them top $100 million compared to 33.5% in 2015. The median fund size as of Sept. 30 was $68 million, up from $50 million at the end of 2017. The average fund size as of Sept. 30 was $151,3 million, up from $132.2 million at the end of 2017.

Exit activity is also strong. Venture capital firms exited 637 companies valued at $80.4 billion in the nine months ended Sept. 30. In 2017 871 exits were recorded, worth a total of $92.4 billion.

"This year illustrates the proliferation of large exits and VCs capitalizing on a strong late-cycle market," the report said.

The report is available on PitchBook's website. Registration is required.