Spreadsheet: 077714c5-1e18-4478-adba-f1ec1d0fa839
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 - 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 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 | 2011 Total
Seed | 139888900 | 251726600 | 134650300 | 122841200 | 649107000 | 134848900 | 214351000 | 132116600 | 166730800 | 648047300 | 216165900 | 182310100 | 152789000 | 195261400 | 746526400 | 224977200 | 207221300 | 212379200 | 289554100 | 934131800 | 365952800 | 513798100 | 686233000 | 1024522900 | 2590506800 | 657186400 | 605272500 | 629199500 | 395879400 | 2287537800 | 186896000 | 171461000 | 105100700 | 92369800 | 555827500 | 51704000 | 76445300 | 64130000 | 49763200 | 242042500 | 61826000 | 73840900 | 76330200 | 57130300 | 269127400 | 75455100 | 77975900 | 92676100 | 113756800 | 359863900 | 113215900 | 447548700 | 135298700 | 100732900 | 796796200 | 201940000 | 320820400 | 305013400 | 212814900 | 1040588700 | 195705900 | 257724400 | 282013400 | 387913400 | 1123357100 | 322524300 | 398250500 | 314715700 | 244923000 | 1280413500 | 150830700 | 340517700 | 163796000 | 217650900 | 872795300 | 212529600 | 321917000 | 168822100 | 173276100 | 876544800 | 71367000 | 316935700 | 388302700
Early Stage | 231666200 | 193493200 | 175161000 | 255157800 | 855478200 | 324857000 | 366294100 | 249248500 | 320528200 | 1260927800 | 365700800 | 364796400 | 373040100 | 573169200 | 1676706500 | 637062500 | 383643900 | 423499900 | 1039052400 | 2483258700 | 558798000 | 1073159800 | 1274946400 | 3024211400 | 5931115600 | 4533479700 | 4377443800 | 3229824700 | 2927230200 | 15067978400 | 1851951600 | 1060792200 | 768109200 | 605513200 | 4286366200 | 633685900 | 711559600 | 442012400 | 435125200 | 2222383100 | 371135200 | 592056300 | 468819100 | 673912300 | 2105922900 | 523093300 | 629373800 | 597119900 | 683211200 | 2432798200 | 610230200 | 535767400 | 736119400 | 552776200 | 2434893200 | 492947900 | 504538600 | 573006900 | 709656100 | 2280149500 | 595676700 | 857737800 | 591680800 | 853699400 | 2898794700 | 640261500 | 624010400 | 547171400 | 478004400 | 2289447700 | 269302300 | 229572800 | 263962900 | 499036800 | 1261874800 | 380939700 | 362410800 | 490146600 | 398209300 | 1631706400 | 565581600 | 577033000 | 1142614600
Expansion | 248838700 | 847364400 | 392668900 | 198724800 | 1687596800 | 481592100 | 412053700 | 330389600 | 485054000 | 1709089400 | 296324200 | 600355800 | 489323900 | 479996000 | 1865999900 | 429713600 | 962315900 | 701022000 | 512559000 | 2605610500 | 741314000 | 992095800 | 1811299900 | 2560722000 | 6105431700 | 2893728800 | 2494324300 | 1751672800 | 1351566100 | 8491292000 | 561170300 | 578473700 | 320814900 | 387986900 | 1848445800 | 414453100 | 319031200 | 377661000 | 195106000 | 1306251300 | 264300600 | 209139200 | 255378000 | 243659900 | 972477700 | 291010100 | 400742700 | 378831900 | 264419100 | 1335003800 | 437207200 | 314783100 | 235106100 | 480620900 | 1467717300 | 546966700 | 594008200 | 483977500 | 343606800 | 1968559200 | 533438500 | 512735700 | 803107900 | 612489900 | 2461772000 | 607260200 | 425215200 | 426863900 | 247373100 | 1706712400 | 120574000 | 163410100 | 176020200 | 269743600 | 729747900 | 306397000 | 302974200 | 246758500 | 264291200 | 1120420900 | 218716300 | 221258600 | 439974900
Later Stage | 132529900 | 150723000 | 123830000 | 129070100 | 536153000 | 52859000 | 128434000 | 90716000 | 116536100 | 388545100 | 130367900 | 49148100 | 60241000 | 83936900 | 323693900 | 22774900 | 326568400 | 204621000 | 19758900 | 573723200 | 51330000 | 176329000 | 128741900 | 119782100 | 476183000 | 168582000 | 113268000 | 82349100 | 109206000 | 473405100 | 68899900 | 74989200 | 9100000 | 73345900 | 226335000 | 61808000 | 43383000 | 25516000 | 74820000 | 205527000 | 25796000 | 53009000 | 238740100 | 112379900 | 429925000 | 141612100 | 119900000 | 142253000 | 145872400 | 549637500 | 232740000 | 172597200 | 264631000 | 186701800 | 856670000 | 186310300 | 124789100 | 283181000 | 138103000 | 732383400 | 211200100 | 127194000 | 255614000 | 271543000 | 865551100 | 295940800 | 248249000 | 253405900 | 187608300 | 985204000 | 143213000 | 40960000 | 158135000 | 134726000 | 477034000 | 165439000 | 185361000 | 343210000 | 46090000 | 740100000 | 281048000 | 362054000 | 643102000
Grand Total | 752923700 | 1443307200 | 826310200 | 705793900 | 3728335000 | 994157000 | 1121132800 | 802470700 | 1088849100 | 4006609600 | 1008558800 | 1196610400 | 1075394000 | 1332363500 | 4612926700 | 1314528200 | 1879749500 | 1541522100 | 1860924400 | 6596724200 | 1717394800 | 2755382700 | 3901221200 | 6729238400 | 15103237100 | 8252976900 | 7590308600 | 5693046100 | 4783881700 | 26320213300 | 2668917800 | 1885716100 | 1203124800 | 1159215800 | 6916974500 | 1161651000 | 1150419100 | 909319400 | 754814400 | 3976203900 | 723057800 | 928045400 | 1039267400 | 1087082400 | 3777453000 | 1031170600 | 1227992400 | 1210880900 | 1207259500 | 4677303400 | 1393393300 | 1470696400 | 1371155200 | 1320831800 | 5556076700 | 1428164900 | 1544156300 | 1645178800 | 1404180800 | 6021680800 | 1536021200 | 1755391900 | 1932416100 | 2125645700 | 7349474900 | 1865986800 | 1695725100 | 1542156900 | 1157908800 | 6261777600 | 683920000 | 774460600 | 761914100 | 1121157300 | 3341452000 | 1065305300 | 1172663000 | 1248937200 | 881866600 | 4368772100 | 1136712900 | 1477281300 | 2613994200
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 | 2011 Total
Seed | 77 | 51 | 64 | 60 | 252 | 63 | 90 | 68 | 93 | 314 | 110 | 70 | 71 | 95 | 346 | 104 | 113 | 113 | 131 | 461 | 129 | 169 | 200 | 158 | 656 | 168 | 158 | 136 | 118 | 580 | 60 | 61 | 55 | 43 | 219 | 33 | 39 | 29 | 27 | 128 | 42 | 47 | 34 | 36 | 159 | 34 | 59 | 29 | 47 | 169 | 43 | 49 | 56 | 60 | 208 | 65 | 78 | 100 | 72 | 315 | 72 | 108 | 104 | 118 | 402 | 97 | 97 | 96 | 74 | 364 | 44 | 58 | 43 | 60 | 205 | 50 | 71 | 58 | 72 | 251 | 49 | 101 | 150
Early Stage | 83 | 70 | 59 | 73 | 285 | 68 | 124 | 86 | 130 | 408 | 111 | 102 | 121 | 143 | 477 | 134 | 97 | 110 | 156 | 497 | 132 | 244 | 284 | 458 | 1118 | 524 | 547 | 471 | 391 | 1933 | 242 | 185 | 143 | 130 | 700 | 129 | 139 | 96 | 107 | 471 | 90 | 106 | 103 | 127 | 426 | 119 | 135 | 129 | 142 | 525 | 134 | 128 | 137 | 133 | 532 | 114 | 148 | 129 | 160 | 551 | 125 | 167 | 130 | 137 | 559 | 133 | 151 | 125 | 118 | 527 | 73 | 80 | 81 | 133 | 367 | 116 | 132 | 138 | 117 | 503 | 141 | 139 | 280
Expansion | 87 | 73 | 74 | 62 | 296 | 90 | 69 | 88 | 118 | 365 | 102 | 114 | 97 | 117 | 430 | 104 | 108 | 100 | 105 | 417 | 107 | 139 | 149 | 244 | 639 | 260 | 235 | 176 | 153 | 824 | 81 | 78 | 71 | 54 | 284 | 53 | 51 | 50 | 49 | 203 | 42 | 23 | 40 | 41 | 146 | 29 | 43 | 56 | 60 | 188 | 49 | 63 | 55 | 79 | 246 | 85 | 77 | 66 | 45 | 273 | 54 | 77 | 67 | 88 | 286 | 79 | 57 | 47 | 43 | 226 | 23 | 34 | 34 | 43 | 134 | 40 | 51 | 39 | 40 | 170 | 32 | 40 | 72
Later Stage | 11 | 12 | 17 | 18 | 58 | 16 | 15 | 11 | 16 | 58 | 17 | 9 | 8 | 16 | 50 | 6 | 21 | 17 | 7 | 51 | 7 | 14 | 12 | 7 | 40 | 16 | 13 | 13 | 14 | 56 | 6 | 6 | 6 | 12 | 30 | 9 | 10 | 8 | 8 | 35 | 4 | 7 | 7 | 15 | 33 | 13 | 14 | 11 | 12 | 50 | 15 | 17 | 9 | 19 | 60 | 15 | 31 | 27 | 22 | 95 | 18 | 20 | 27 | 28 | 93 | 34 | 36 | 37 | 33 | 140 | 21 | 14 | 17 | 19 | 71 | 20 | 27 | 24 | 17 | 88 | 32 | 30 | 62
Grand Total | 258 | 206 | 214 | 213 | 891 | 237 | 298 | 253 | 357 | 1145 | 340 | 295 | 297 | 371 | 1303 | 348 | 339 | 340 | 399 | 1426 | 375 | 566 | 645 | 867 | 2453 | 968 | 953 | 796 | 676 | 3393 | 389 | 330 | 275 | 239 | 1233 | 224 | 239 | 183 | 191 | 837 | 178 | 183 | 184 | 219 | 764 | 195 | 251 | 225 | 261 | 932 | 241 | 257 | 257 | 291 | 1046 | 279 | 334 | 322 | 299 | 1234 | 269 | 372 | 328 | 371 | 1340 | 343 | 341 | 305 | 268 | 1257 | 161 | 186 | 175 | 255 | 777 | 226 | 281 | 259 | 246 | 1012 | 254 | 310 | 564
 | Source:  PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data:  Thomson Reuters