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Monthly Dashboard: Fundraising picks up as exits fall back in November

Fundraising picked up in November as 18 U.S. venture firms raised nearly $1.2 billion in commitments, compared with 20 firms raising about $842 million the month before.

Year-to-date through November, VC fundraising topped $25 billion, more than one-third off from last year’s total, which reached $40 billion.

Elsewhere in November, exits slid as the value of M&A and IPOs slowed.

The stats below are based on preliminary data from Thomson Reuters.

Fundraising (value up 41%)

November was a solid month for fundraising as 18 U.S. venture firms raised more than $1.2 billion in commitments, compared with 20 firms collecting nearly $842 million in October, a 41 percent climb in dollars. Life-sciences-focused Frazier Management raised the most during November when it closed its ninth fund at $419 million. The second largest was the $177 million raised by Arrowroot Capital for its third fund.

Deals (value down 41%)

Deal count fell in November, and the money raised by U.S. startups also dropped. A total of 238 U.S.-based companies raised more than $3.98 billion of capital in November, compared with 296 deals raising more than $6.77 billion in October, a 41 percent decline in dollars. In November, San Francisco game developer Niantic raised the largest round, at nearly $200 million, from Founders Fund, Spark Capital, Javelin Venture Partners and Meritech Capital Partners.

M&A (value down 11%)

Disclosed M&A activity was modest in November, as it was in previous months. A total of 15 VC-backed companies were acquired in November, with five disclosing transaction prices for a combined deal value of $1.2 billion. That compared with 25 venture-backed companies selling in October, including four with disclosed financial details for a combined $1.37 billion. The November M&A total was led by the $450 million acquisition of Nutonomy, a maker of autonomous-vehicle software, by Delphi Automotive.

IPOs (value down 57%)

Ten VC-backed companies went public on the Nasdaq and NYSE in November, compared with eight in October. The value of the IPO proceeds fell by more than half to $890 million from $2.29 billion in October. The largest VC-backed U.S. startup to go public in October was Apellis Pharmaceuticals, a Kentucky clinical-stage biopharmaceutical company, which raised $150 million in its debut.

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