Spreadsheet: 077714c5-1e18-4478-adba-f1ec1d0fa839
Sheet: by Stage of Dev

 |  |  |  |  |  | PricewaterhouseCoopers/National Venture Capital Association
 |  |  |  |  |  | MoneyTree™ Report, Data: Thomson Reuters
 |  |  |  |  |  | Investments by Stage of Development Q1 1995 - Q2 2011
Amount Invested
Stage of Development | 1995 |  |  |  |  | 1996 |  |  |  |  | 1997 |  |  |  |  | 1998 |  |  |  |  | 1999 |  |  |  |  | 2000 |  |  |  |  | 2001 |  |  |  |  | 2002 |  |  |  |  | 2003 |  |  |  |  | 2004 |  |  |  |  | 2005 |  |  |  |  | 2006 |  |  |  |  | 2007 |  |  |  |  | 2008 |  |  |  |  | 2009 |  |  |  |  | 2010 |  |  |  |  | 2011
 | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1995 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1996 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1997 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1998 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1999 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2000 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2001 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2002 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2003 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2004 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2005 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2006 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2007 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2008 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2009 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2010 Total | Qtr 1 | Qtr 2 | 2011 Total
Seed | 257134600 | 385558500 | 205660400 | 271820500 | 1120174000 | 299522800 | 421549600 | 197424500 | 300715900 | 1219212800 | 379145900 | 306071800 | 307383300 | 296768100 | 1289369100 | 367258100 | 391418500 | 430203600 | 438872900 | 1627753100 | 484218600 | 779947100 | 935096900 | 1241351100 | 3440613700 | 764110400 | 865899300 | 810287500 | 452953300 | 2893250500 | 234587000 | 234569000 | 112627700 | 107182800 | 688966500 | 61839000 | 90239200 | 78311000 | 76643200 | 307032400 | 68726000 | 90314900 | 85317200 | 81214300 | 325572400 | 95017100 | 115215000 | 109264200 | 141351800 | 460848100 | 120667900 | 490959700 | 158335700 | 153062100 | 923025400 | 234131100 | 368819500 | 347408400 | 297792400 | 1248151400 | 299963600 | 359460600 | 353588600 | 499461600 | 1512474400 | 446546500 | 497591400 | 474371500 | 318166100 | 1736675500 | 311595300 | 544123700 | 515897400 | 382547400 | 1754163800 | 422841100 | 767774600 | 301162300 | 233549100 | 1725327100 | 129734700 | 375812800 | 505547500
Early Stage | 402502900 | 386816100 | 346832900 | 517826000 | 1653977900 | 550811100 | 647135500 | 570028500 | 680250700 | 2448225800 | 716672400 | 817950200 | 750462100 | 1022251500 | 3307336200 | 1027970100 | 971906700 | 1070907600 | 1868665200 | 4939449600 | 1117233900 | 1801384700 | 2502716500 | 5173545200 | 10594880300 | 6727730900 | 6296228600 | 5381059700 | 4684378600 | 23089397800 | 3302438000 | 1864144600 | 1590003000 | 1191326100 | 7947911700 | 1070960100 | 1060284000 | 774712800 | 752172100 | 3658129000 | 674919400 | 984922900 | 773833000 | 1031922300 | 3465597600 | 881586400 | 936825800 | 947975000 | 1000555600 | 3766942800 | 838031600 | 938295200 | 1058663800 | 953695800 | 3788686400 | 848447400 | 891781600 | 1055728700 | 1422984900 | 4218942600 | 1210639400 | 1606736500 | 1282839100 | 1689671100 | 5789886100 | 1318988700 | 1416073700 | 1269771400 | 1359172500 | 5364006300 | 710155900 | 1097817800 | 1194220700 | 1716274300 | 4718468700 | 1092767300 | 1661727400 | 1288535100 | 1435844600 | 5478874400 | 1804986000 | 2017164500 | 3822150500
Expansion | 624926800 | 1374627200 | 735912900 | 672666100 | 3408133000 | 1117102600 | 1473414700 | 1219867000 | 1540371700 | 5350756000 | 1309962800 | 1916009800 | 1975171600 | 2147000700 | 7348144900 | 1709926400 | 3103288500 | 2607379700 | 2527267800 | 9947862400 | 2951712100 | 5000745400 | 7575350700 | 13179388000 | 28707196200 | 15686646500 | 15175808000 | 14914350200 | 11513387500 | 57290192200 | 6567954300 | 6214566100 | 4226979700 | 4658532900 | 21668033000 | 3662871300 | 3603861400 | 2351442000 | 2226179100 | 11844353800 | 2328181300 | 2366518900 | 2198580900 | 2492830500 | 9386111600 | 2073003800 | 2754093400 | 2048855500 | 2278224600 | 9154177300 | 2119006100 | 2346804400 | 1707495100 | 2317384300 | 8490689900 | 2525915700 | 3263236700 | 2912892500 | 2352721800 | 11054766700 | 2874672400 | 2395415000 | 2938015500 | 2892826000 | 11100928900 | 3420210000 | 2631668900 | 2457614200 | 2063497900 | 10572991000 | 1038984000 | 1700385000 | 1799927700 | 1948625900 | 6487922600 | 2012350900 | 2842792600 | 1737083500 | 2585033700 | 9177260700 | 2149075700 | 2339357400 | 4488433100
Later Stage | 310627500 | 302860600 | 252493600 | 265136100 | 1131117800 | 240336700 | 427456400 | 402167200 | 490397000 | 1560357300 | 518317600 | 486740700 | 580794400 | 668438200 | 2254290900 | 744423300 | 878215600 | 734524500 | 864192200 | 3221355600 | 1354130900 | 2466360200 | 1992027500 | 2802940700 | 8615459300 | 4026752600 | 3923443700 | 4127075700 | 3854471400 | 15931743400 | 2223466500 | 2242777600 | 1677744700 | 1602330500 | 7746319300 | 1673681400 | 1088090800 | 1096034000 | 1221792300 | 5079598500 | 1057495100 | 1302263900 | 1565044800 | 1781381400 | 5706185200 | 2130183400 | 2226494300 | 1706300500 | 2372305600 | 8435283800 | 1967286700 | 2364600900 | 2861879500 | 2300709600 | 9494476700 | 2691429000 | 2552219200 | 2359820000 | 2143384400 | 9746852600 | 2793632700 | 2980726200 | 3304480200 | 2890389500 | 11969228600 | 2723154700 | 3092902400 | 3051478900 | 2174811800 | 11042347800 | 1560635700 | 1325208000 | 1803211700 | 1829251200 | 6518306600 | 1652869700 | 1888834200 | 1951903500 | 1387733600 | 6881341000 | 2248221000 | 2783767700 | 5031988700
Grand Total | 1595191800 | 2449862400 | 1540899800 | 1727448700 | 7313402700 | 2207773200 | 2969556200 | 2389487200 | 3011735300 | 10578551900 | 2924098700 | 3526772500 | 3613811400 | 4134458500 | 14199141100 | 3849577900 | 5344829300 | 4843015400 | 5698998100 | 19736420700 | 5907295500 | 10048437400 | 13005191600 | 22397225000 | 51358149500 | 27205240400 | 26261379600 | 25232773100 | 20505190800 | 99204583900 | 12328445800 | 10556057300 | 7607355100 | 7559372300 | 38051230500 | 6469351800 | 5842475400 | 4300499800 | 4276786700 | 20889113700 | 4129321800 | 4744020600 | 4622775900 | 5387348500 | 18883466800 | 5179790700 | 6032628500 | 4812395200 | 5792437600 | 21817252000 | 5044992300 | 6140660200 | 5786374100 | 5724851800 | 22696878400 | 6299923200 | 7076057000 | 6675849600 | 6216883500 | 26268713300 | 7178908100 | 7342338300 | 7878923400 | 7972348200 | 30372518000 | 7908899900 | 7638236400 | 7253236000 | 5915648300 | 28716020600 | 3621370900 | 4667534500 | 5313257500 | 5876698800 | 19478861700 | 5180829000 | 7161128800 | 5278684400 | 5642161000 | 23262803200 | 6332017400 | 7516102400 | 13848119800
Number of Deals
Stage of Development | 1995 |  |  |  |  | 1996 |  |  |  |  | 1997 |  |  |  |  | 1998 |  |  |  |  | 1999 |  |  |  |  | 2000 |  |  |  |  | 2001 |  |  |  |  | 2002 |  |  |  |  | 2003 |  |  |  |  | 2004 |  |  |  |  | 2005 |  |  |  |  | 2006 |  |  |  |  | 2007 |  |  |  |  | 2008 |  |  |  |  | 2009 |  |  |  |  | 2010 |  |  |  |  | 2011
 | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1995 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1996 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1997 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1998 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 1999 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2000 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2001 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2002 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2003 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2004 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2005 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2006 Totals | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2007 Totals | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2008 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2009 Total | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2010 Total | Qtr 1 | Qtr 2 | 2011 Total
Seed | 125 | 95 | 95 | 114 | 429 | 132 | 140 | 99 | 136 | 507 | 163 | 119 | 120 | 139 | 541 | 151 | 162 | 165 | 195 | 673 | 167 | 212 | 247 | 187 | 813 | 198 | 196 | 172 | 138 | 704 | 81 | 73 | 67 | 59 | 280 | 47 | 53 | 40 | 38 | 178 | 55 | 59 | 42 | 52 | 208 | 45 | 73 | 42 | 64 | 224 | 50 | 66 | 68 | 74 | 258 | 79 | 93 | 116 | 100 | 388 | 89 | 136 | 131 | 145 | 501 | 133 | 127 | 150 | 102 | 512 | 68 | 84 | 98 | 105 | 355 | 87 | 113 | 92 | 87 | 379 | 74 | 117 | 191
Early Stage | 133 | 137 | 116 | 138 | 524 | 150 | 209 | 181 | 226 | 766 | 204 | 213 | 229 | 261 | 907 | 241 | 223 | 248 | 310 | 1022 | 249 | 381 | 451 | 655 | 1736 | 774 | 791 | 687 | 626 | 2878 | 440 | 341 | 271 | 254 | 1306 | 246 | 246 | 193 | 197 | 882 | 192 | 217 | 189 | 212 | 810 | 206 | 235 | 215 | 227 | 883 | 212 | 217 | 215 | 203 | 847 | 200 | 240 | 229 | 305 | 974 | 245 | 314 | 250 | 271 | 1080 | 261 | 289 | 271 | 279 | 1100 | 189 | 205 | 230 | 314 | 938 | 253 | 349 | 287 | 300 | 1189 | 300 | 347 | 647
Expansion | 191 | 182 | 168 | 176 | 717 | 239 | 251 | 246 | 324 | 1060 | 321 | 373 | 331 | 419 | 1444 | 378 | 418 | 416 | 400 | 1612 | 392 | 577 | 617 | 920 | 2506 | 1031 | 1002 | 909 | 827 | 3769 | 658 | 683 | 551 | 551 | 2443 | 420 | 464 | 351 | 385 | 1620 | 351 | 326 | 351 | 350 | 1378 | 291 | 360 | 272 | 326 | 1249 | 278 | 299 | 244 | 303 | 1124 | 335 | 366 | 352 | 341 | 1394 | 282 | 327 | 325 | 356 | 1290 | 348 | 335 | 284 | 278 | 1245 | 180 | 217 | 215 | 268 | 880 | 260 | 307 | 242 | 269 | 1078 | 231 | 260 | 491
Later Stage | 57 | 49 | 55 | 56 | 217 | 66 | 73 | 77 | 86 | 302 | 89 | 75 | 79 | 94 | 337 | 98 | 114 | 98 | 108 | 418 | 127 | 158 | 130 | 122 | 537 | 170 | 146 | 184 | 187 | 687 | 138 | 144 | 133 | 138 | 553 | 145 | 110 | 123 | 121 | 499 | 121 | 147 | 149 | 184 | 601 | 184 | 199 | 177 | 241 | 801 | 207 | 264 | 275 | 260 | 1006 | 275 | 290 | 235 | 235 | 1035 | 268 | 304 | 325 | 323 | 1220 | 300 | 333 | 322 | 273 | 1228 | 227 | 232 | 190 | 225 | 874 | 186 | 229 | 219 | 180 | 814 | 209 | 242 | 451
Grand Total | 506 | 463 | 434 | 484 | 1887 | 587 | 673 | 603 | 772 | 2635 | 777 | 780 | 759 | 913 | 3229 | 868 | 917 | 927 | 1013 | 3725 | 935 | 1328 | 1445 | 1884 | 5592 | 2173 | 2135 | 1952 | 1778 | 8038 | 1317 | 1241 | 1022 | 1002 | 4582 | 858 | 873 | 707 | 741 | 3179 | 719 | 749 | 731 | 798 | 2997 | 726 | 867 | 706 | 858 | 3157 | 747 | 846 | 802 | 840 | 3235 | 889 | 989 | 932 | 981 | 3791 | 884 | 1081 | 1031 | 1095 | 4091 | 1042 | 1084 | 1027 | 932 | 4085 | 664 | 738 | 733 | 912 | 3047 | 786 | 998 | 840 | 836 | 3460 | 814 | 966 | 1780
 | Source:  PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data:  Thomson Reuters