Mo' MoneyJustin Hibbard
Last year, it seemed like every month brought news of another VC firm raising a new fund. Kleiner Perkins kicked off 2004 by announcing it had closed its eleventh fund at $400 million, and from there, the parade marched on. Get ready for even more. A new report from Private Equity Intelligence Ltd. (PEI) says fundraising activity this year will likely exceed last year. Keep in mind that PEI's numbers include all flavors of private equity--VC, buyout, funds-of-funds, etc.--throughout the world. Still, the numbers are arresting. PEI estimates that private-equity managers worldwide will try to raise more than 800 funds this year worth a total of $250 billion. Last year, managers actually succeeded at raising 284 funds valued at $136 billion.
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