EVCA reports decline in fundraising

According to preliminary data gathered by the European Venture Capital Association (EVCA), private equity fundraising declined by 48% in the first quarter of this year. With firms such as 3i and Terra Firma expected to fall short of target, the current climate has hit fundraising hard. The EVCA symposium in Vienna attributed the phenomenon to continuing geopolitical uncertainty in the wake of the war in Iraq. hitting fundraising hard, arresting the previous upward trend in fundraising, with just EUR 5.9bn raised in the first three months of this year – the smallest amount in any quarter since 1999. In the three months preceding December 2002, a total of EUR 11.3bn was raised in the three months leading up to last December.

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