A surge in venture-capital funds
Wellesley Hills, Mass.
Venture-capital firms are rolling in the dough. Thirty-three funds attracted $1.15 billion in new capital commitments in the first half of this year. The record funding tops the first half of 1982's capital influx of $744 million by 55 percent, Venture Capital Journal reports. And it's drawing close to the $1.4 billion posted for all of that year.
Pension funds were the primary source of capital. Foreign investors, fourth last year, have jumped into second place by pumping in $245 million - a 30 percent increase over last year.
Among the 33 funds, California, Massachusetts, and New York received 82.4 percent of the the committed capital.