Venture capital firms added $9B to their coffers last quarter, bringing the total to $32.4B and keeping 2016 on track to be the biggest year since the dot-com era.
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The amount raised is only $5B short of last year’s total, according to a report by the National Venture Capital Association, Bloomberg reports. This boom in VC capital could be connected to increasing university endowments and pension funds, their major backers, along with a desire to raise cash earlier than usual in case the economic environment become worse.
Yet in other ways, VC is getting more cautious—last quarter firms deployed only $15B to 1,800 startups. That’s the least capital allocated since the beginning of 2014 and the fifth consecutive drop in the number of companies receiving funding. [Bloomberg]
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