Spreadsheet: 14334f31-0ede-4a9d-82e3-26cb029fc023
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 - Q3 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 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 | Qtr 1 | Qtr 2 | Qtr 3 | 2012 Total
Seed | 175194900 | 252377600 | 151059900 | 163929200 | 742561600 | 127444000 | 203656000 | 132228700 | 173528800 | 636857500 | 232281900 | 205172100 | 164028000 | 203439400 | 804921400 | 249699200 | 231145300 | 222665200 | 299915100 | 1003424800 | 447506300 | 569902200 | 728891900 | 1051945800 | 2798246200 | 692890400 | 707463500 | 697579600 | 422688400 | 2520621900 | 204376000 | 201650000 | 118520700 | 107514800 | 632061500 | 62319000 | 77855300 | 67835000 | 59073200 | 267082500 | 77273000 | 76791000 | 91293200 | 59215300 | 304572500 | 81121100 | 85768100 | 146134300 | 515384000 | 828407500 | 141085900 | 425356700 | 137964800 | 107873000 | 812280400 | 213301000 | 323180900 | 320205400 | 219936900 | 1076624200 | 214483900 | 383796000 | 374532400 | 449958400 | 1422770700 | 329879200 | 418902600 | 359539700 | 275381000 | 1383702500 | 155377700 | 497189300 | 176302900 | 197698600 | 1026568500 | 199716900 | 327847400 | 196496000 | 169860900 | 893921200 | 168835300 | 364430800 | 176099700 | 101992400 | 811358200 | 76763400 | 159374500 | 113385500 | 349523400
Early Stage | 241837200 | 197484200 | 176323000 | 282656200 | 898300600 | 345048000 | 388199100 | 251027500 | 372147200 | 1356421800 | 387166800 | 377904900 | 363595800 | 563092200 | 1691759700 | 678582500 | 398829900 | 510946500 | 1083200600 | 2671559500 | 599121700 | 1172497400 | 1325626400 | 3199975100 | 6297220600 | 4831743200 | 4803589900 | 3503409800 | 3343982600 | 16482725500 | 1851360600 | 1115165200 | 773382200 | 686708200 | 4426616200 | 686565800 | 716344600 | 463840500 | 469750300 | 2336501200 | 359279100 | 593131500 | 467221100 | 717548400 | 2137180100 | 544972300 | 672514800 | 644970900 | 747703100 | 2610161100 | 631185200 | 619017500 | 821607400 | 582322200 | 2654132300 | 516508800 | 598694500 | 624310900 | 808842100 | 2548356300 | 654192900 | 883341800 | 553204100 | 883412400 | 2974151200 | 661911500 | 648054400 | 586224500 | 535940500 | 2432130900 | 270627100 | 273403700 | 278469200 | 519135600 | 1341635600 | 398512700 | 374572100 | 537617700 | 448416600 | 1759119100 | 612256400 | 623836100 | 604670700 | 713368300 | 2554131500 | 517843000 | 517470800 | 471030100 | 1506343900
Expansion | 249558700 | 777106300 | 406398700 | 211358800 | 1644422500 | 478832000 | 438184700 | 335079600 | 494402000 | 1746498300 | 296448000 | 613041800 | 469226900 | 490360000 | 1869076700 | 501119000 | 1018598900 | 740785400 | 587745000 | 2848248300 | 855782000 | 1060331200 | 1497977800 | 2546329900 | 5960420900 | 2942782800 | 2652154300 | 1786792100 | 1414957100 | 8796686300 | 626396300 | 595740700 | 344416900 | 363860900 | 1930414800 | 413531100 | 308431300 | 404842900 | 213314000 | 1340119300 | 286839600 | 225849200 | 222378000 | 211787900 | 946854700 | 295110400 | 390921700 | 358355900 | 249940100 | 1294328100 | 465892200 | 343547100 | 283162300 | 476366900 | 1568968500 | 541693700 | 603733200 | 435796500 | 341757000 | 1922980400 | 523906100 | 537518800 | 796097900 | 626771500 | 2484294300 | 594039200 | 418162200 | 457014900 | 262373100 | 1731589400 | 95274000 | 176660100 | 189020200 | 322938900 | 783893200 | 273897000 | 273309200 | 238416500 | 237594200 | 1023216900 | 210457400 | 289047100 | 340640600 | 178103300 | 1018248400 | 143520200 | 217464900 | 357202800 | 718187900
Later Stage | 136256900 | 242101000 | 156088100 | 162838100 | 697284100 | 86396900 | 133503000 | 104055900 | 136985100 | 460940900 | 150683900 | 79266100 | 123745000 | 121554900 | 475249900 | 52299900 | 308290400 | 213519000 | 59858800 | 633968100 | 64780000 | 260430000 | 536800000 | 191382100 | 1053392100 | 228931900 | 288073000 | 191328000 | 212352000 | 920684900 | 129798900 | 94602200 | 38899000 | 108077900 | 371378000 | 119322000 | 131127900 | 50516900 | 83420000 | 384386800 | 40435000 | 74109000 | 65490000 | 132954900 | 312988900 | 164897100 | 173600100 | 173453000 | 184098400 | 696048600 | 259810000 | 180596200 | 255631000 | 223137800 | 919175000 | 169205300 | 156605100 | 296563000 | 184614000 | 806987400 | 222400200 | 166945000 | 257716000 | 275568000 | 922629200 | 299215800 | 297136900 | 277881000 | 205008300 | 1079242000 | 132513000 | 41960000 | 158135000 | 127676000 | 460284000 | 165268000 | 167161000 | 300608000 | 58590000 | 691627000 | 296408000 | 304420000 | 166692200 | 146407000 | 913927200 | 146709000 | 208885700 | 74806100 | 430400800
Grand Total | 802847700 | 1469069100 | 889869700 | 820782300 | 3982568800 | 1037720900 | 1163542800 | 822391700 | 1177063100 | 4200718500 | 1066580600 | 1275384900 | 1120595700 | 1378446500 | 4841007700 | 1481700600 | 1956864500 | 1687916100 | 2030719500 | 7157200700 | 1967190000 | 3063160800 | 4089296100 | 6989632900 | 16109279800 | 8696348300 | 8451280700 | 6179109500 | 5393980100 | 28720718600 | 2811931800 | 2007158100 | 1275218800 | 1266161800 | 7360470500 | 1281737900 | 1233759100 | 987035300 | 825557500 | 4328089800 | 763826700 | 969880700 | 846382300 | 1121506500 | 3701596200 | 1086100900 | 1322804700 | 1322914100 | 1697125600 | 5428945300 | 1497973300 | 1568517500 | 1498365500 | 1389699900 | 5954556200 | 1440708800 | 1682213700 | 1676875800 | 1555150000 | 6354948300 | 1614983100 | 1971601600 | 1981550400 | 2235710300 | 7803845400 | 1885045700 | 1782256100 | 1680660100 | 1278702900 | 6626664800 | 653791800 | 989213100 | 801927300 | 1167449100 | 3612381300 | 1037394600 | 1142889700 | 1273138200 | 914461700 | 4367884200 | 1287957100 | 1581734000 | 1288103200 | 1139871000 | 5297665300 | 884835600 | 1103195900 | 1016424500 | 3004456000
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 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 | Qtr 1 | Qtr 2 | Qtr 3 | 2012 Total
Seed | 78 | 52 | 64 | 62 | 256 | 61 | 90 | 66 | 92 | 309 | 110 | 71 | 71 | 95 | 347 | 105 | 113 | 112 | 129 | 459 | 129 | 170 | 203 | 159 | 661 | 167 | 161 | 137 | 118 | 583 | 61 | 61 | 55 | 43 | 220 | 33 | 39 | 29 | 30 | 131 | 44 | 47 | 36 | 39 | 166 | 35 | 61 | 31 | 51 | 178 | 44 | 51 | 55 | 61 | 211 | 67 | 78 | 104 | 72 | 321 | 74 | 111 | 109 | 133 | 427 | 98 | 102 | 101 | 84 | 385 | 46 | 61 | 45 | 74 | 226 | 54 | 80 | 64 | 82 | 280 | 67 | 111 | 89 | 80 | 347 | 39 | 50 | 45 | 134
Early Stage | 82 | 69 | 58 | 72 | 281 | 66 | 120 | 84 | 131 | 401 | 108 | 100 | 120 | 141 | 469 | 134 | 97 | 108 | 156 | 495 | 131 | 244 | 281 | 461 | 1117 | 520 | 549 | 466 | 386 | 1921 | 237 | 183 | 142 | 132 | 694 | 130 | 136 | 95 | 105 | 466 | 87 | 103 | 102 | 127 | 419 | 121 | 134 | 134 | 143 | 532 | 133 | 130 | 138 | 139 | 540 | 118 | 148 | 135 | 170 | 571 | 129 | 172 | 133 | 147 | 581 | 137 | 158 | 131 | 125 | 551 | 77 | 85 | 86 | 138 | 386 | 123 | 137 | 145 | 135 | 540 | 164 | 159 | 167 | 172 | 662 | 148 | 183 | 199 | 530
Expansion | 87 | 73 | 73 | 61 | 294 | 88 | 69 | 89 | 116 | 362 | 98 | 111 | 93 | 117 | 419 | 104 | 106 | 99 | 107 | 416 | 105 | 137 | 145 | 243 | 630 | 253 | 225 | 173 | 151 | 802 | 85 | 77 | 70 | 51 | 283 | 50 | 51 | 49 | 52 | 202 | 43 | 23 | 34 | 41 | 141 | 30 | 42 | 53 | 57 | 182 | 53 | 66 | 56 | 78 | 253 | 80 | 77 | 63 | 51 | 271 | 56 | 81 | 66 | 97 | 300 | 81 | 57 | 51 | 46 | 235 | 22 | 37 | 35 | 45 | 139 | 38 | 49 | 39 | 45 | 171 | 34 | 50 | 52 | 35 | 171 | 31 | 38 | 41 | 110
Later Stage | 13 | 14 | 20 | 24 | 71 | 20 | 19 | 15 | 21 | 75 | 21 | 15 | 14 | 18 | 68 | 8 | 22 | 21 | 14 | 65 | 9 | 20 | 20 | 11 | 60 | 23 | 24 | 21 | 22 | 90 | 10 | 8 | 10 | 16 | 44 | 13 | 18 | 11 | 11 | 53 | 6 | 10 | 12 | 17 | 45 | 17 | 20 | 16 | 19 | 72 | 18 | 19 | 14 | 24 | 75 | 19 | 36 | 32 | 26 | 113 | 22 | 24 | 28 | 29 | 103 | 35 | 37 | 39 | 35 | 146 | 22 | 15 | 16 | 21 | 74 | 22 | 29 | 25 | 22 | 98 | 33 | 33 | 27 | 20 | 113 | 16 | 24 | 12 | 52
Grand Total | 260 | 208 | 215 | 219 | 902 | 235 | 298 | 254 | 360 | 1147 | 337 | 297 | 298 | 371 | 1303 | 351 | 338 | 340 | 406 | 1435 | 374 | 571 | 649 | 874 | 2468 | 963 | 959 | 797 | 677 | 3396 | 393 | 329 | 277 | 242 | 1241 | 226 | 244 | 184 | 198 | 852 | 180 | 183 | 184 | 224 | 771 | 203 | 257 | 234 | 270 | 964 | 248 | 266 | 263 | 302 | 1079 | 284 | 339 | 334 | 319 | 1276 | 281 | 388 | 336 | 406 | 1411 | 351 | 354 | 322 | 290 | 1317 | 167 | 198 | 182 | 278 | 825 | 237 | 295 | 273 | 284 | 1089 | 298 | 353 | 335 | 307 | 1293 | 234 | 295 | 297 | 826
 | Source:  PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data:  Thomson Reuters