U.S. venture capital firms raised $5.91 billion in the second quarter, but the total went to just 38 funds, underscoring the continuing trend of concentrating cash in the hands of top funds.
The latest results compared with 45 funds raising $2.61 billion a year ago, and 49 funds raising $5.26 billion in the first quarter, according to data from the National Venture Capital Association (NVCA) and Thomson Reuters.
The biggest funds raised in the second quarter included a $2.08 billion fund from New Enterprise Associates and a $1 billion fund from Institutional Venture Partners.
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