The below is from the Nollenberger Capital Report
- This is the first time since 1978 that no venture-backed company made it public during a quarter. The last venture-backed IPO was ArcSight in February 2008. In the first half of 2008, there were only 5 IPOs that totaled $283 million. That compares to 43 IPOs during the first half of 2007 totaling $6.3 billion. During the first half of 2008, 42 companies were in registration for an IPO.
- For 2Q 2008, 50 M&A deals were announced involving venture-backed companies which totaled $2.4 billion. The first half of 2008 was the slowest first half M&A market since 2000 with only 142 deals. During the first half of 2008, there were 120 venture-backed M&A deals, compared to 169 during the first half of 2007 which amounted to $6 billion, compared to $8.5 billion in 2007, a 42% decline for investors.
- In the first half of 2008, U.S. venture firms raised $16.2 billion, a 5.41% increase over the same period in 2007. The $85.5 billion that LP’s invested into LBO funds was 20.5% below the $107.6 billion invested in the first half of 2007. This is the first time since 2003 that we have seen Y/Y fund raising decline as PE firms experienced capital raising delays for their latest buyout funds. 72 new venture capital funds raised money, 10 more than in the 2007 period. The largest raise was $800 million for Lightspeed Venture Partners VIII LP fund.