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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE European venture capital fundraising continues at slow pace in Q327/11/2006. Source: AltAssets. 
A total of five European venture capital firms raised €451.7m in the third quarter of 2006, down from ten venture capital funds raising €903.8m in the third quarter of 2005, according to Dow Jones VentureOne. In the first three quarters of this year €1.62bn has been raised among 27 funds, off the pace of 39 funds and €2.86bn raised at the same point last year.
However, the median fund size has gone up to €37.3m from €32.2m in 2005. The record was set in 2000 when the median fund size was €50m.
'While European venture capital fundraising has significantly decreased, the total amount of venture capital raised to date this year still exceeds the total funds raised during both 2003 and 2004,' said Steven Harmston, director of global research for VentureOne. 'In addition, it is not just venture capital funds that have decreased. Fundraising for buy-out and other private equity firms has also declined in Europe in 2006, particularly in contrast to the activity in the US.'
Among the largest venture capital funds that closed in Europe in the third quarter were Scottish Equity Partners' €234.9m SEP III fund in the UK and Life Sciences Partners BV's €150m Life Sciences Partners III Fund in the Netherlands.
Copyright © 2006 AltAssets
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