$11.2 bln raised by venture capital firms in Q2 2006

Private equity fundraising continued to break new records in both the venture capital and buyout asset classes in Q2 2006, according to Thomson Financial and the National Venture Capital Association. In the quarter, 50 venture capital funds raised a total of $11.2 bln, the highest level since the first quarter of 2001. Thirty-five Buyout and Mezzanine funds raised $30.8 bln. The unusually high fundraising level this quarter was driven by several large funds in both the venture capital and buyout asset classes. An oversubscribed Oak Investment Partners XII raised $2.56 bln becoming the largest venture capital fund ever raised. New Enterprise Associates 12 nearly matched this level raising $2.25 bln in the quarter. On the buyout side, Texas Pacific Group’s TPG Partners V raised $14 bln.