U.S. venture capital firms had a knockout second quarter this year, raising a collective $10.3 billion for 74 funds, according to a report released Wednesday. (Tweet this)
The amount of money raised increased was almost 40 percent higher than in the first quarter of 2015, according to the Fundraising Report by Thomson Reuters and the National Venture Capital Association. The number of funds increased 10 percent during the period.
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"After a sustained period of moderation over the last year, venture capital fundraising increased during the second quarter, marking the strongest fundraising period since before the financial crisis of 2008 with more than $10 billion in total commitments," said Bobby Franklin, the association's president and CEO.
"If this pace continues, we are certainly on track to surpass total fundraising for all of 2014 in what we hope is a more favorable environment across the venture industry, not just isolated at the top among a few marquee firms. What this all means is that fundraising is finally scaling up to the level of venture investment we've witnessed over the past few years, and the institutional investors are recognizing the great opportunities to invest in the next generation of American companies."