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Just like their portfolio companies, venture capital firms continue to find it difficult to raise funding compared with last year.

Through the end of the third quarter, 83 venture funds raised $8 billion, a 58% drop from the $18.9 billion raised by 141 funds at this time last year. In the third quarter, 26 funds raised just $3.5 billion, according to Dow Jones VentureSource.

The weakness came even as a boost in public markets provided some respite to limited partners’ liquidity issues. But many LPs remain capital-constrained, or are being cautious about committing to venture firms until they’re sure the funds can hit a certain minimum level.

VC Fund-Raising Drops, Marketing Not Worth ‘Brain Damage’