Venture capital investors in the Nashville area have raised a record-setting amount of money this year, and there's still one quarter left to go.
That's one standout statistic in the latest quarterly report from PitchBook and the National Venture Capital Association. According to that "Venture Monitor" report, Nashville-based firms have raised $872.93 million so far this year.
That sum already tops the prior record, which is the $339.4 million raised in 2020, according to the report's historical data.
The story is the same on a national level, with total funds raised reaching a new high. "With over $290 billion in dry powder, by far the largest amount that has ever been stored in VC funds, [general partners] have more than enough capital to support innovative startups through their venture lifecycle in the coming years despite the tumultuous economic environment," said a jointly issued press release announcing the new Venture Monitor report.
The Nashville-area haul in 2022 nearly matches the $891 million that local investors corralled during the prior six years combined, according to the report's data.
The spike in fundraising this year runs counter to nearly every other measure of venture capital activity in the U.S. The number of deals, total money invested and exits all are falling, according to the report.
Here's a rundown of Nashville funds and what they've raised this year, per the Venture Monitor report:
- Fintop Capital, which raised $336 million in a couple of funds;
- Frist Cressey Ventures, which raised $277 million in a couple of funds;
- Mountain Group Partners, which raised $128 million;
- Nashville Capital Network, which raised $77 million;
- The newly created Jumpstart Nova, which netted $55 million.
Click here for a list of the state's largest venture capital and private-equity firms.
