Dashboard: Fundraising plummets in September

Fundraising (value down 74%)

Fundraising by venture firms dropped 74 percent from $2.56 billion in August to $662 million in September, according to Thomson Reuters data. Late-stage investor New China Capital Management raised the most during the month, hauling in about $194 million in commitments for Cathay Capital Holdings III. In all, just 11 U.S.-based firms collectively raised $662 million during the month.

Deals (value up 83%)

The combined amount raised by venture-backed, U.S.-based companies in September rose to $5.5 billion, compared to $3 billion in August. Overall, there were slightly more than 500 deals in September, compared to about 390 venture rounds in August. One of the largest deals was a late-stage venture investment by The Raine Group, Technology Crossover Ventures and others in Vice Media, which raised a $500 million in the round. Also notable in September was the $165 million The Founders Fund invested in Palantir Technologies Inc.

M&A (value down 42%)

A total of 34 venture-backed, U.S.-based companies were purchased in September, resulting in an aggregate rank value of $1.96 billion for the seven that disclosed financial terms. In August, total M&A deal activity saw 40 companies sell for a combined $3.4 billion. The largest deal to close in September with a disclosed value was the acquisition of Twitch by Amazon for $970 million.

IPO (proceeds down 77%)

The number of VC-backed IPOs fell to four in September, compared to six in August. Similarly, the combined proceeds also dropped, going from about $1.3 billion in August to $294 in September. Cambridge, Massachusetts-based Tokai Pharmaceuticals, one of three VC-backed biotech companies to go public, held the largest offering, raising more than $97 million in its Sept. 17 debut.

Based on Thomson Reuters data and original research.

Data is continuously updated and is therefore subject to change. Date is for U.S.-based companies and venture firms.

Photo illustrations by Janet Yuen.