U.S. Venture Capital Fundraising Falls to Lowest in Eight Years

U.S. venture capital fundraising dropped to the lowest in eight years in the third quarter as a slowing economic recovery and debt crisis in Europe led to fewer initial public offerings.

Venture firms raised $1.72 billion in the period, down 53 percent from the same period a year earlier and the lowest amount since the third quarter of 2003, the National Venture Capital Association said today in a statement.