Spreadsheet: 2866f3cb-1ec4-42b8-994f-2208a8b65123
Sheet: by Stage of Dev

 |  |  |  |  |  | PricewaterhouseCoopers/National Venture Capital Association
 |  |  |  |  |  | MoneyTree™ Report, Data: Thomson Reuters
 |  |  |  |  |  | Investments by Stage of Development Q1 1995 - Q1 2012
Amount Invested
Stage of Development | 1995 |  |  |  |  | 1996 |  |  |  |  | 1997 |  |  |  |  | 1998 |  |  |  |  | 1999 |  |  |  |  | 2000 |  |  |  |  | 2001 |  |  |  |  | 2002 |  |  |  |  | 2003 |  |  |  |  | 2004 |  |  |  |  | 2005 |  |  |  |  | 2006 |  |  |  |  | 2007 |  |  |  |  | 2008 |  |  |  |  | 2009 |  |  |  |  | 2010 |  |  |  |  | 2011 |  |  |  |  | 2012
 | 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 | Qtr 3 | Qtr 4 | 2011 Total | Qtr 1 | 2012 Total
Seed | 312888600 | 397360500 | 229865000 | 329758500 | 1269872600 | 322706900 | 431946600 | 200618600 | 316454900 | 1271727000 | 400584900 | 330828800 | 323323300 | 319500100 | 1374237100 | 402564100 | 426424500 | 459900600 | 482584200 | 1771473400 | 593038500 | 840442200 | 955268400 | 1261026000 | 3649775100 | 808569400 | 981735300 | 891817500 | 486770300 | 3168892500 | 256568000 | 265258000 | 128232700 | 150318800 | 800377500 | 76447000 | 93461200 | 84173000 | 82678200 | 336759400 | 84506000 | 95165000 | 100280200 | 86279300 | 366230500 | 104750100 | 124314200 | 167930200 | 554531000 | 951525500 | 148537900 | 532473700 | 161550700 | 162737200 | 1005299500 | 243742100 | 374019000 | 362590400 | 306201400 | 1286552900 | 315840600 | 484232200 | 457029600 | 554424600 | 1811527000 | 458551500 | 531331500 | 546963500 | 364354100 | 1901200600 | 312685200 | 608200500 | 525977300 | 360707800 | 1807570800 | 411176100 | 773981000 | 339468500 | 233333900 | 1757959500 | 211247500 | 420412300 | 222029800 | 156187200 | 1009876800 | 141443300 | 141443300
Early Stage | 409044000 | 393640100 | 366533200 | 565488400 | 1734705700 | 597800100 | 714025500 | 579643400 | 760984700 | 2652453700 | 769491400 | 846833700 | 760053500 | 1043140200 | 3419518800 | 1131106100 | 1014452100 | 1290595400 | 1992618100 | 5428771700 | 1238438900 | 2012717500 | 2662140500 | 5483380200 | 11396677100 | 7122910500 | 6944608400 | 5888048700 | 5353664400 | 25309232000 | 3424956000 | 2114778600 | 1702071200 | 1332163000 | 8573968800 | 1183609000 | 1134033000 | 860214000 | 790777500 | 3968633500 | 700891100 | 1033947900 | 811675000 | 1099183400 | 3645697400 | 916673400 | 1019788800 | 1017122000 | 1086586600 | 4040170800 | 872114000 | 1003759100 | 1204402800 | 989100800 | 4069376700 | 894289400 | 949747700 | 1125408700 | 1674929900 | 4644375700 | 1330733300 | 1657917800 | 1270458100 | 1773231100 | 6032340300 | 1410534600 | 1478154600 | 1366242400 | 1436983600 | 5691915200 | 753851700 | 1185455800 | 1222977800 | 1748997200 | 4911282500 | 1147287500 | 1666936600 | 1369242500 | 1509890000 | 5693356600 | 1811678300 | 2230029800 | 2035476700 | 2335002400 | 8412187200 | 1612594600 | 1612594600
Expansion | 634820800 | 1328157300 | 806209800 | 804253100 | 3573441000 | 1172245600 | 1510503500 | 1273437600 | 1598262200 | 5554448900 | 1365731200 | 1964134800 | 1988642300 | 2305869500 | 7624377800 | 1754714300 | 3178987800 | 2703688000 | 2616575300 | 10253965400 | 3211399100 | 5482542000 | 7396391700 | 13412444800 | 29502777600 | 16175392700 | 15808484000 | 15243222000 | 12007405700 | 59234504400 | 6910856200 | 6646031100 | 4563108400 | 4808855600 | 22928851300 | 3877175700 | 3579313900 | 2459130700 | 2350548000 | 12266168300 | 2467609700 | 2457385900 | 2222583000 | 2614335500 | 9761914100 | 2105728800 | 2769803900 | 2017969500 | 2265214600 | 9158716800 | 2128258200 | 2369814100 | 1775418100 | 2338702300 | 8612192700 | 2567999900 | 3267286800 | 2933318600 | 2492809900 | 11261415200 | 2854407700 | 2450533900 | 3110455600 | 3003904400 | 11419301600 | 3472951700 | 2741748700 | 2587074200 | 2149249400 | 10951024000 | 1208474800 | 1843995300 | 1808145800 | 1949345200 | 6809961100 | 1886699800 | 2863186700 | 1710548400 | 2424625900 | 8885060800 | 2263706300 | 2414939200 | 2611898200 | 2519092600 | 9809636300 | 1714377500 | 1714377500
Later Stage | 338211500 | 427972500 | 295489600 | 361107900 | 1422781500 | 349920600 | 459654400 | 543925100 | 536493000 | 1889993100 | 524577800 | 531578700 | 651317400 | 795948200 | 2503422100 | 843147400 | 984465100 | 912078800 | 1127860400 | 3867551700 | 1591701700 | 2699649200 | 2596904400 | 3214810500 | 10103065800 | 4378925700 | 4332621400 | 4543223200 | 4281442500 | 17536212800 | 2460231500 | 2512408300 | 1891298500 | 1865272700 | 8729211000 | 1864283600 | 1288583700 | 1134685000 | 1313697300 | 5601249600 | 1140551000 | 1402551300 | 1518013600 | 1847834400 | 5908950300 | 2250595400 | 2431528600 | 1831035000 | 2529868600 | 9043027600 | 2079263700 | 2514984300 | 2957669200 | 2355393700 | 9907310900 | 2844666900 | 2684320800 | 2494499000 | 2256152000 | 10279638700 | 2994368500 | 3160759000 | 3362368200 | 3067610000 | 12585105700 | 2787457800 | 3294426900 | 3139639900 | 2247230800 | 11468755400 | 1594591000 | 1426160800 | 1774318900 | 1808751700 | 6603822400 | 1731641000 | 1880355900 | 1979701600 | 1415856700 | 7007555200 | 2415640500 | 2975503400 | 2443041500 | 2053155900 | 9887341300 | 2283430900 | 2283430900
Grand Total | 1694964900 | 2547130400 | 1698097600 | 2060607900 | 8000800800 | 2442673200 | 3116130000 | 2597624700 | 3212194800 | 11368622700 | 3060385300 | 3673376000 | 3723336500 | 4464458000 | 14921555800 | 4131531900 | 5604329500 | 5366262800 | 6219638000 | 21321762200 | 6634578200 | 11035350900 | 13610705000 | 23371661500 | 54652295600 | 28485798300 | 28067449100 | 26566311400 | 22129282900 | 105248841700 | 13052611700 | 11538476000 | 8284710800 | 8156610100 | 41032408600 | 7001515300 | 6095391800 | 4538202700 | 4537701000 | 22172810800 | 4393557800 | 4989050100 | 4652551800 | 5647632600 | 19682792300 | 5377747700 | 6345435500 | 5034056700 | 6436200800 | 23193440700 | 5228173800 | 6421031200 | 6099040800 | 5845934000 | 23594179800 | 6550698300 | 7275374300 | 6915816700 | 6730093200 | 27471982500 | 7495350100 | 7753442900 | 8200311500 | 8399170100 | 31848274600 | 8129495600 | 8045661700 | 7639920000 | 6197817900 | 30012895200 | 3869602700 | 5063812400 | 5331419800 | 5867801900 | 20132636800 | 5176804400 | 7184460200 | 5398961000 | 5583706500 | 23343932100 | 6702272600 | 8040884700 | 7312446200 | 7063438100 | 29119041600 | 5751846300 | 5751846300
Number of Deals
Stage of Development | 1995 |  |  |  |  | 1996 |  |  |  |  | 1997 |  |  |  |  | 1998 |  |  |  |  | 1999 |  |  |  |  | 2000 |  |  |  |  | 2001 |  |  |  |  | 2002 |  |  |  |  | 2003 |  |  |  |  | 2004 |  |  |  |  | 2005 |  |  |  |  | 2006 |  |  |  |  | 2007 |  |  |  |  | 2008 |  |  |  |  | 2009 |  |  |  |  | 2010 |  |  |  |  | 2011 |  |  |  |  | 2012
 | 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 | Qtr 3 | Qtr 4 | 2011 Total | Qtr 1 | 2012 Total
Seed | 126 | 96 | 95 | 116 | 433 | 130 | 140 | 97 | 136 | 503 | 163 | 120 | 120 | 139 | 542 | 152 | 162 | 164 | 193 | 671 | 167 | 211 | 246 | 185 | 809 | 196 | 196 | 171 | 135 | 698 | 79 | 73 | 68 | 58 | 278 | 47 | 53 | 40 | 39 | 179 | 56 | 59 | 43 | 54 | 212 | 46 | 76 | 44 | 65 | 231 | 51 | 68 | 68 | 76 | 263 | 80 | 93 | 118 | 100 | 391 | 89 | 138 | 136 | 154 | 517 | 135 | 132 | 153 | 109 | 529 | 69 | 85 | 100 | 113 | 367 | 91 | 119 | 98 | 93 | 401 | 86 | 126 | 110 | 90 | 412 | 53 | 53
Early Stage | 131 | 137 | 115 | 138 | 521 | 148 | 207 | 178 | 226 | 759 | 201 | 208 | 228 | 257 | 894 | 241 | 221 | 243 | 311 | 1016 | 248 | 380 | 449 | 655 | 1732 | 769 | 792 | 681 | 619 | 2861 | 433 | 340 | 269 | 254 | 1296 | 247 | 243 | 193 | 193 | 876 | 191 | 216 | 186 | 213 | 806 | 206 | 234 | 216 | 227 | 883 | 213 | 219 | 216 | 206 | 854 | 201 | 243 | 235 | 313 | 992 | 251 | 315 | 247 | 280 | 1093 | 264 | 291 | 276 | 283 | 1114 | 194 | 213 | 235 | 317 | 959 | 261 | 357 | 300 | 324 | 1242 | 320 | 376 | 369 | 384 | 1449 | 290 | 290
Expansion | 188 | 179 | 167 | 174 | 708 | 238 | 248 | 243 | 317 | 1046 | 311 | 365 | 322 | 412 | 1410 | 366 | 408 | 405 | 396 | 1575 | 385 | 567 | 600 | 900 | 2452 | 1010 | 983 | 895 | 816 | 3704 | 647 | 673 | 540 | 536 | 2396 | 412 | 449 | 345 | 382 | 1588 | 345 | 318 | 337 | 350 | 1350 | 285 | 355 | 261 | 311 | 1212 | 272 | 298 | 244 | 299 | 1113 | 331 | 362 | 350 | 339 | 1382 | 281 | 325 | 323 | 353 | 1282 | 347 | 335 | 285 | 281 | 1248 | 180 | 219 | 214 | 267 | 880 | 252 | 305 | 244 | 273 | 1074 | 221 | 268 | 278 | 231 | 998 | 207 | 207
Later Stage | 60 | 55 | 56 | 62 | 233 | 71 | 80 | 85 | 94 | 330 | 99 | 86 | 88 | 106 | 379 | 108 | 123 | 112 | 121 | 464 | 136 | 171 | 148 | 142 | 597 | 191 | 167 | 201 | 204 | 763 | 154 | 153 | 148 | 154 | 609 | 155 | 130 | 127 | 132 | 544 | 129 | 157 | 162 | 189 | 637 | 196 | 211 | 189 | 262 | 858 | 219 | 273 | 280 | 268 | 1040 | 284 | 303 | 241 | 244 | 1072 | 273 | 313 | 330 | 332 | 1248 | 303 | 334 | 324 | 276 | 1237 | 227 | 234 | 190 | 223 | 874 | 201 | 233 | 227 | 186 | 847 | 234 | 271 | 204 | 184 | 893 | 208 | 208
Grand Total | 505 | 467 | 433 | 490 | 1895 | 587 | 675 | 603 | 773 | 2638 | 774 | 779 | 758 | 914 | 3225 | 867 | 914 | 924 | 1021 | 3726 | 936 | 1329 | 1443 | 1882 | 5590 | 2166 | 2138 | 1948 | 1774 | 8026 | 1313 | 1239 | 1025 | 1002 | 4579 | 861 | 875 | 705 | 746 | 3187 | 721 | 750 | 728 | 806 | 3005 | 733 | 876 | 710 | 865 | 3184 | 755 | 858 | 808 | 849 | 3270 | 896 | 1001 | 944 | 996 | 3837 | 894 | 1091 | 1036 | 1119 | 4140 | 1049 | 1092 | 1038 | 949 | 4128 | 670 | 751 | 739 | 920 | 3080 | 805 | 1014 | 869 | 876 | 3564 | 861 | 1041 | 961 | 889 | 3752 | 758 | 758
 | Source:  PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data:  Thomson Reuters