A breakdown by geographic focus highlights that the North America region is the most popular focus area for these funds. Preqin’s data reveals that 43% of all venture capital funds investing in IT that are currently raising capital are primarily targeting investments in North America, and that these funds are hoping to raise an aggregate $11.9 billion in commitments. Thirty-six percent are focused on Asia and Rest of the World regions, targeting a total $9.8 billion, and 21% on Europe, collectively targeting $4.3 billion.
The largest IT-focused venture capital fund currently in market is the KPCB Digital Growth Fund, which is targeting $1 billion. The vehicle, managed by Kleiner, Perkins, Caufield & Byers, seeks investment opportunities in the IT, digital media and internet sectors, and targets companies based in the US.
The last 12 months saw an aggregate $22.8 billion raised by 96 venture capital funds reaching a final close that make investments across the IT universe. The largest of these were the Andreessen Horowitz Fund III and InSight Venture Partners VII, which both closed on $1.5 billion. The former targets technology-orientated opportunities across North America, and the latter seeks US-based technology, software, internet and media firms.
Posted by Jessica Duong on 06-Feb-2012
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