Spreadsheet: 202b7052-0b3c-4e3b-974a-c44810e48653
Sheet: First Sequence by Stage of Dev

 |  |  |  |  | PricewaterhouseCoopers/National Venture Capital Association
 |  |  |  |  | MoneyTree™ Report. Data: Thomson Reuters
 |  |  |  |  | First Sequence Investments by Stage of Development Q1 1995 - Q4 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 Totals | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2007 Totals | Qtr 1 | Qtr 2 | Qtr 3 | Qtr 4 | 2008 Totals | 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
Seed | 142288900 | 251726600 | 134650300 | 122841200 | 651507000 | 134848900 | 196551000 | 132116600 | 165310800 | 628827300 | 216165900 | 182310100 | 152789000 | 195261400 | 746526400 | 224977200 | 207221300 | 212379200 | 287547100 | 932124800 | 365952800 | 513798100 | 686233000 | 1024522900 | 2590506800 | 657186400 | 605272500 | 629199500 | 395879400 | 2287537800 | 186896000 | 171461000 | 105100700 | 92369800 | 555827500 | 51704000 | 76445300 | 64130000 | 49763200 | 242042500 | 62089000 | 73840900 | 76330200 | 57130300 | 269390400 | 75455100 | 78975800 | 142676100 | 513757000 | 810864000 | 119415900 | 384337700 | 135298700 | 100732900 | 739785200 | 206940000 | 320820400 | 305513400 | 212814900 | 1046088700 | 196005900 | 326786000 | 372013400 | 424663400 | 1319468700 | 316848300 | 400824600 | 326526700 | 246922000 | 1291121600 | 150830700 | 425053500 | 166796000 | 224466300 | 967146500 | 197529600 | 335147400 | 209944600 | 172961000 | 915582600 | 94314800 | 351731100 | 176088800 | 63169300 | 685304000
Early Stage | 231666200 | 193493200 | 175161000 | 253757800 | 854078200 | 324857000 | 358294100 | 249248500 | 320528200 | 1252927800 | 365700800 | 364796400 | 373040100 | 573169200 | 1676706500 | 637062500 | 383643900 | 423499900 | 1053852500 | 2498058800 | 558798000 | 1073159800 | 1274946400 | 3026211400 | 5933115600 | 4534478700 | 4377043800 | 3239479700 | 2927474100 | 15078476300 | 1837501600 | 1100792100 | 751686200 | 605513200 | 4295493100 | 633685900 | 711559600 | 438208400 | 435125100 | 2218579000 | 371135300 | 592056300 | 468819100 | 676912300 | 2108923000 | 528193300 | 629373800 | 597119900 | 683211200 | 2437898200 | 610230200 | 605767300 | 817220400 | 555976200 | 2589194100 | 503546900 | 511538600 | 585506900 | 799556100 | 2400148500 | 644076700 | 858337800 | 544429800 | 855199400 | 2902043700 | 653661500 | 627611400 | 548471300 | 504857500 | 2334601700 | 269127300 | 259067800 | 250173900 | 525419800 | 1303788800 | 382539700 | 371245700 | 494321600 | 416175200 | 1664282200 | 601730100 | 615358000 | 574815000 | 668225300 | 2460128400
Expansion | 235932700 | 848364300 | 392668900 | 215129800 | 1692095700 | 465452100 | 412053700 | 330389600 | 485529000 | 1693424400 | 295138200 | 602915800 | 489323900 | 484496000 | 1871873900 | 429713600 | 962315900 | 701022000 | 512559000 | 2605610500 | 810273000 | 1042096200 | 1837299900 | 2560722000 | 6250391100 | 2878142800 | 2494324300 | 1748224800 | 1350154100 | 8470846000 | 558724300 | 578473700 | 320597900 | 387986900 | 1845782800 | 414453100 | 321531300 | 378659900 | 196346000 | 1310990300 | 264300600 | 216639200 | 245378000 | 219119900 | 945437700 | 306010400 | 400742700 | 373531900 | 264419100 | 1344704100 | 462207200 | 324583100 | 285106100 | 483120900 | 1555017300 | 546966700 | 594008200 | 474521500 | 351306800 | 1966803200 | 514238600 | 537735700 | 780557900 | 615797500 | 2448329700 | 607260200 | 2025215200 | 439863900 | 247373100 | 3319712400 | 119574000 | 163410100 | 186020200 | 280743600 | 749747900 | 306397000 | 309974200 | 246416600 | 250291200 | 1113079000 | 196557300 | 293662100 | 347890600 | 110890300 | 949000300
Later Stage | 132529900 | 156333000 | 123830000 | 129070100 | 541763000 | 42979000 | 128434000 | 90716000 | 116536100 | 378665100 | 130367900 | 49148100 | 60241000 | 83936900 | 323693900 | 22774900 | 302568400 | 204621000 | 19758900 | 549723200 | 51330000 | 176329000 | 128741900 | 119782100 | 476183000 | 118581900 | 113268000 | 82349100 | 109206000 | 423405000 | 68899900 | 74989200 | 9100000 | 73345900 | 226335000 | 68808000 | 43383000 | 25516000 | 74820000 | 212527000 | 25796000 | 53009000 | 41740000 | 112379900 | 232924900 | 141612100 | 149400100 | 142253000 | 145872400 | 579137600 | 243540000 | 172597200 | 271631000 | 203996800 | 891765000 | 186310300 | 132639100 | 283181000 | 138103000 | 740233400 | 221200100 | 139195000 | 247614000 | 271543000 | 879552100 | 295940800 | 318249000 | 261406000 | 192608300 | 1068204100 | 143343000 | 40960000 | 158135000 | 134726000 | 477164000 | 165439000 | 179561000 | 343210000 | 46090000 | 734300000 | 310035000 | 304369000 | 192835200 | 78107000 | 885346200
Grand Total | 742417700 | 1449917100 | 826310200 | 720798900 | 3739443900 | 968137000 | 1095332800 | 802470700 | 1087904100 | 3953844600 | 1007372800 | 1199170400 | 1075394000 | 1336863500 | 4618800700 | 1314528200 | 1855749500 | 1541522100 | 1873717500 | 6585517300 | 1786353800 | 2805383100 | 3927221200 | 6731238400 | 15250196500 | 8188389800 | 7589908600 | 5699253100 | 4782713600 | 26260265100 | 2652021800 | 1925716000 | 1186484800 | 1159215800 | 6923438400 | 1168651000 | 1152919200 | 906514300 | 756054300 | 3984138800 | 723320900 | 935545400 | 832267300 | 1065542400 | 3556676000 | 1051270900 | 1258492400 | 1255580900 | 1607259700 | 5172603900 | 1435393300 | 1487285300 | 1509256200 | 1343826800 | 5775761600 | 1443763900 | 1559006300 | 1648722800 | 1501780800 | 6153273800 | 1575521300 | 1862054500 | 1944615100 | 2167203300 | 7549394200 | 1873710800 | 3371900200 | 1576267900 | 1191760900 | 8013639800 | 682875000 | 888491400 | 761125100 | 1165355700 | 3497847200 | 1051905300 | 1195928300 | 1293892800 | 885517400 | 4427243800 | 1202637200 | 1565120200 | 1291629600 | 920391900 | 4979778900
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 Totals | 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
Seed | 77 | 51 | 64 | 63 | 255 | 63 | 90 | 68 | 92 | 313 | 110 | 70 | 71 | 95 | 346 | 105 | 113 | 113 | 130 | 461 | 129 | 170 | 201 | 158 | 658 | 168 | 158 | 136 | 119 | 581 | 60 | 61 | 56 | 43 | 220 | 33 | 39 | 29 | 28 | 129 | 43 | 47 | 35 | 38 | 163 | 35 | 62 | 30 | 48 | 175 | 44 | 49 | 56 | 62 | 211 | 66 | 78 | 102 | 72 | 318 | 73 | 109 | 107 | 125 | 414 | 97 | 99 | 98 | 78 | 372 | 44 | 59 | 44 | 67 | 214 | 52 | 77 | 61 | 75 | 265 | 57 | 107 | 85 | 60 | 309
Early Stage | 83 | 70 | 59 | 73 | 285 | 68 | 123 | 86 | 131 | 408 | 111 | 101 | 121 | 144 | 477 | 134 | 97 | 110 | 157 | 498 | 132 | 245 | 284 | 458 | 1119 | 524 | 546 | 472 | 390 | 1932 | 241 | 187 | 142 | 131 | 701 | 129 | 139 | 95 | 107 | 470 | 90 | 106 | 103 | 128 | 427 | 121 | 135 | 129 | 142 | 527 | 135 | 129 | 137 | 136 | 537 | 116 | 150 | 131 | 166 | 563 | 127 | 167 | 128 | 142 | 564 | 134 | 151 | 125 | 123 | 533 | 75 | 85 | 80 | 133 | 373 | 116 | 135 | 139 | 126 | 516 | 149 | 149 | 146 | 144 | 588
Expansion | 87 | 74 | 74 | 63 | 298 | 88 | 70 | 88 | 118 | 364 | 101 | 114 | 97 | 119 | 431 | 104 | 108 | 100 | 107 | 419 | 107 | 140 | 150 | 245 | 642 | 258 | 235 | 174 | 153 | 820 | 81 | 78 | 70 | 56 | 285 | 54 | 52 | 50 | 50 | 206 | 43 | 23 | 38 | 40 | 144 | 30 | 44 | 57 | 63 | 194 | 51 | 67 | 57 | 81 | 256 | 86 | 77 | 67 | 51 | 281 | 52 | 79 | 66 | 91 | 288 | 80 | 59 | 49 | 44 | 232 | 22 | 34 | 35 | 44 | 135 | 42 | 52 | 41 | 41 | 176 | 30 | 45 | 52 | 30 | 157
Later Stage | 11 | 12 | 17 | 18 | 58 | 15 | 15 | 11 | 16 | 57 | 17 | 9 | 8 | 16 | 50 | 6 | 20 | 17 | 7 | 50 | 7 | 14 | 12 | 7 | 40 | 15 | 13 | 13 | 14 | 55 | 6 | 6 | 6 | 12 | 30 | 9 | 10 | 8 | 8 | 35 | 4 | 7 | 7 | 16 | 34 | 13 | 17 | 11 | 13 | 54 | 16 | 17 | 10 | 20 | 63 | 15 | 32 | 28 | 22 | 97 | 20 | 21 | 26 | 28 | 95 | 34 | 37 | 38 | 35 | 144 | 22 | 14 | 17 | 20 | 73 | 21 | 28 | 24 | 17 | 90 | 34 | 32 | 25 | 14 | 105
Grand Total | 258 | 207 | 214 | 217 | 896 | 234 | 298 | 253 | 357 | 1142 | 339 | 294 | 297 | 374 | 1304 | 349 | 338 | 340 | 401 | 1428 | 375 | 569 | 647 | 868 | 2459 | 965 | 952 | 795 | 676 | 3388 | 388 | 332 | 274 | 242 | 1236 | 225 | 240 | 182 | 193 | 840 | 180 | 183 | 183 | 222 | 768 | 199 | 258 | 227 | 266 | 950 | 246 | 262 | 260 | 299 | 1067 | 283 | 337 | 328 | 311 | 1259 | 272 | 376 | 327 | 386 | 1361 | 345 | 346 | 310 | 280 | 1281 | 163 | 192 | 176 | 264 | 795 | 231 | 292 | 265 | 259 | 1047 | 270 | 333 | 308 | 248 | 1159
 | Source:  PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data:  Thomson Reuters