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

 |  |  |  |  |  | PricewaterhouseCoopers/National Venture Capital Association
 |  |  |  |  |  | MoneyTree™ Report, Data: Thomson Reuters
 |  |  |  |  |  | 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 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
Seed | 259534600 | 385558500 | 205660400 | 271820500 | 1122574000 | 299522800 | 421549600 | 197424500 | 300715900 | 1219212800 | 379145900 | 306071800 | 307383300 | 296768100 | 1289369100 | 367258100 | 391418500 | 430203600 | 436865900 | 1625746100 | 484218600 | 778933100 | 934101900 | 1240388100 | 3437641700 | 763803400 | 865829300 | 810287500 | 452325300 | 2892245500 | 234113000 | 234569000 | 112627700 | 107182800 | 688492500 | 61839000 | 90239200 | 78311000 | 76643200 | 307032400 | 68989000 | 90314900 | 85317200 | 81214300 | 325835400 | 95017100 | 116214900 | 159264200 | 541352000 | 911848200 | 126867900 | 490959700 | 158335700 | 153062100 | 929225400 | 239131100 | 368819500 | 347908400 | 297792400 | 1253651400 | 300263600 | 428522200 | 444587600 | 536211600 | 1709585000 | 449870500 | 514165500 | 486182500 | 320165100 | 1770383600 | 308137300 | 593659500 | 515470400 | 389362800 | 1806630000 | 399641100 | 781005000 | 344698700 | 233234000 | 1758578800 | 150882500 | 411823300 | 222541800 | 133863500 | 919111100
Early Stage | 393403000 | 386816100 | 346832900 | 516426000 | 1643478000 | 550811100 | 647135500 | 570028500 | 680250700 | 2448225800 | 716672400 | 808410200 | 746961900 | 1022251500 | 3294296000 | 1027970100 | 971906700 | 1101407600 | 1914865300 | 5016149700 | 1117233900 | 1801384700 | 2502716500 | 5175545200 | 10596880300 | 6727429900 | 6329287600 | 5390714700 | 4684622500 | 23132054700 | 3287969000 | 1904144500 | 1590003100 | 1191326100 | 7973442700 | 1070960100 | 1088283000 | 786408800 | 753171000 | 3698822900 | 676919500 | 984922900 | 773833000 | 1034922300 | 3470597700 | 886686400 | 936793800 | 947975000 | 1000555600 | 3772010800 | 838031600 | 1008295100 | 1139764800 | 956895800 | 3942987300 | 859046400 | 908180700 | 1068228700 | 1606184900 | 4441640700 | 1280139300 | 1607784700 | 1233911100 | 1728971100 | 5850806200 | 1332388700 | 1427674600 | 1272255300 | 1386025600 | 5418344200 | 722980900 | 1151027900 | 1202458600 | 1747157200 | 4823624600 | 1115378500 | 1710760700 | 1332580500 | 1480157400 | 5638877100 | 1833814300 | 2158595100 | 2040562500 | 2267184600 | 8300156500
Expansion | 614720800 | 1377304100 | 735882900 | 682785100 | 3410692900 | 1115962600 | 1473414700 | 1219867000 | 1540846700 | 5350091000 | 1313501900 | 1912207800 | 1975171600 | 2151300700 | 7352182000 | 1709926000 | 3103288500 | 2585470700 | 2527267800 | 9925953000 | 3020671100 | 5050745800 | 7439342700 | 13160174000 | 28670933600 | 15672052400 | 15175808000 | 14914294400 | 11490213000 | 57252367800 | 6575508200 | 6203509100 | 4240478700 | 4652569900 | 21672065900 | 3662221300 | 3579361200 | 2353908900 | 2227419200 | 11822910600 | 2329431300 | 2374018900 | 2188580900 | 2490290500 | 9382321600 | 2092129100 | 2741593200 | 2043555500 | 2278114600 | 9155392400 | 2144006100 | 2359032400 | 1765107100 | 2314885300 | 8583030900 | 2561177100 | 3273198800 | 2919004500 | 2360296800 | 11113677200 | 2855927500 | 2422415000 | 3017465600 | 3016133700 | 11311941800 | 3425509800 | 4227668700 | 2477621200 | 2100147900 | 12230947600 | 1184984000 | 1724304100 | 1804366800 | 1953039900 | 6666694800 | 1958675900 | 2824719200 | 1751451400 | 2407881800 | 8942728300 | 2258083800 | 2497835500 | 2591430600 | 2363995100 | 9711345000
Later Stage | 310627500 | 308470600 | 252467500 | 265136100 | 1136701700 | 230856700 | 427456700 | 402167200 | 490397000 | 1550877600 | 464729800 | 486740700 | 580794400 | 668438200 | 2200703100 | 717424300 | 854215600 | 736524500 | 904192500 | 3212356900 | 1354130900 | 2466360200 | 1992027500 | 2810727700 | 8623246300 | 3976752500 | 3923443700 | 4127075700 | 3854471400 | 15881743300 | 2223466500 | 2242777600 | 1677744700 | 1587330500 | 7731319300 | 1683497600 | 1092760800 | 1083012000 | 1161792300 | 5021062700 | 1047245100 | 1302544900 | 1338044700 | 1747244300 | 5435079000 | 2139682900 | 2255994400 | 1705333500 | 2415005600 | 8516016400 | 1983086800 | 2368601300 | 2868879500 | 2269904600 | 9490472200 | 2745525100 | 2546469200 | 2359820000 | 2133384100 | 9785198400 | 2803632700 | 2974827900 | 3285126900 | 2890389700 | 11953977200 | 2723154700 | 3190426800 | 3048246800 | 2164011900 | 11125840200 | 1551889700 | 1324928000 | 1767791800 | 1804251800 | 6448861300 | 1681127700 | 1874333800 | 1970402600 | 1397256700 | 6923120800 | 2370295500 | 2892079600 | 2431300200 | 1800787500 | 9494462800
Grand Total | 1578285900 | 2458149300 | 1540843700 | 1736167700 | 7313446600 | 2197153200 | 2969556500 | 2389487200 | 3012210300 | 10568407200 | 2874050000 | 3513430500 | 3610311200 | 4138758500 | 14136550200 | 3822578500 | 5320829300 | 4853606400 | 5783191500 | 19780205700 | 5976254500 | 10097423800 | 12868188600 | 22386835000 | 51328701900 | 27140038200 | 26294368600 | 25242372300 | 20481632200 | 99158411300 | 12321056700 | 10585000200 | 7620854200 | 7538409300 | 38065320400 | 6478518000 | 5850644200 | 4301640700 | 4219025700 | 20849828600 | 4122584900 | 4751801600 | 4385775800 | 5353671400 | 18613833700 | 5213515500 | 6050596300 | 4856128200 | 6235027800 | 22355267800 | 5091992400 | 6226888500 | 5932087100 | 5694747800 | 22945715800 | 6404879700 | 7096668200 | 6694961600 | 6397658200 | 26594167700 | 7239963100 | 7433549800 | 7981091200 | 8171706100 | 30826310200 | 7930923700 | 9359935600 | 7284305800 | 5970350500 | 30545515600 | 3767991900 | 4793919500 | 5290087600 | 5893811700 | 19745810700 | 5154823200 | 7190818700 | 5399133200 | 5518529900 | 23263305000 | 6613076100 | 7960333500 | 7285835100 | 6565830700 | 28425075400
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 | Qtr 3 | Qtr 4 | 2011 Total
Seed | 125 | 95 | 95 | 117 | 432 | 132 | 141 | 99 | 136 | 508 | 163 | 119 | 120 | 139 | 541 | 152 | 162 | 165 | 194 | 673 | 167 | 212 | 247 | 186 | 812 | 197 | 195 | 172 | 137 | 701 | 79 | 73 | 68 | 59 | 279 | 47 | 53 | 40 | 39 | 179 | 56 | 59 | 43 | 54 | 212 | 46 | 76 | 43 | 65 | 230 | 51 | 67 | 68 | 76 | 262 | 80 | 93 | 118 | 100 | 391 | 90 | 137 | 134 | 152 | 513 | 134 | 131 | 152 | 106 | 523 | 67 | 84 | 98 | 112 | 361 | 89 | 119 | 95 | 90 | 393 | 81 | 124 | 111 | 80 | 396
Early Stage | 132 | 137 | 116 | 139 | 524 | 150 | 209 | 181 | 227 | 767 | 204 | 211 | 228 | 262 | 905 | 241 | 223 | 248 | 313 | 1025 | 249 | 382 | 451 | 655 | 1737 | 773 | 791 | 688 | 626 | 2878 | 439 | 343 | 271 | 255 | 1308 | 246 | 247 | 193 | 197 | 883 | 193 | 217 | 189 | 213 | 812 | 208 | 234 | 216 | 227 | 885 | 213 | 219 | 215 | 206 | 853 | 201 | 243 | 231 | 314 | 989 | 250 | 314 | 247 | 279 | 1090 | 263 | 290 | 272 | 284 | 1109 | 192 | 211 | 233 | 315 | 951 | 256 | 356 | 294 | 318 | 1224 | 315 | 371 | 364 | 364 | 1414
Expansion | 191 | 183 | 167 | 177 | 718 | 238 | 252 | 246 | 325 | 1061 | 320 | 372 | 331 | 420 | 1443 | 378 | 418 | 414 | 403 | 1613 | 392 | 578 | 615 | 919 | 2504 | 1029 | 1002 | 908 | 828 | 3767 | 659 | 681 | 552 | 551 | 2443 | 420 | 466 | 350 | 389 | 1625 | 352 | 326 | 349 | 353 | 1380 | 293 | 361 | 273 | 328 | 1255 | 280 | 303 | 247 | 305 | 1135 | 339 | 368 | 355 | 347 | 1409 | 282 | 331 | 329 | 360 | 1302 | 350 | 337 | 286 | 282 | 1255 | 181 | 220 | 218 | 268 | 887 | 261 | 307 | 248 | 270 | 1086 | 225 | 270 | 282 | 222 | 999
Later Stage | 56 | 49 | 54 | 56 | 215 | 65 | 73 | 77 | 86 | 301 | 87 | 75 | 79 | 94 | 335 | 97 | 113 | 98 | 109 | 417 | 127 | 159 | 130 | 121 | 537 | 169 | 146 | 184 | 187 | 686 | 138 | 144 | 133 | 137 | 552 | 145 | 109 | 122 | 120 | 496 | 120 | 146 | 148 | 186 | 600 | 184 | 202 | 176 | 246 | 808 | 209 | 265 | 276 | 262 | 1012 | 275 | 293 | 236 | 234 | 1038 | 270 | 303 | 323 | 323 | 1219 | 300 | 331 | 321 | 272 | 1224 | 225 | 232 | 186 | 223 | 866 | 191 | 229 | 220 | 183 | 823 | 228 | 262 | 196 | 178 | 864
Grand Total | 504 | 464 | 432 | 489 | 1889 | 585 | 675 | 603 | 774 | 2637 | 774 | 777 | 758 | 915 | 3224 | 868 | 916 | 925 | 1019 | 3728 | 935 | 1331 | 1443 | 1881 | 5590 | 2168 | 2134 | 1952 | 1778 | 8032 | 1315 | 1241 | 1024 | 1002 | 4582 | 858 | 875 | 705 | 745 | 3183 | 721 | 748 | 729 | 806 | 3004 | 731 | 873 | 708 | 866 | 3178 | 753 | 854 | 806 | 849 | 3262 | 895 | 997 | 940 | 995 | 3827 | 892 | 1085 | 1033 | 1114 | 4124 | 1047 | 1089 | 1031 | 944 | 4111 | 665 | 747 | 735 | 918 | 3065 | 797 | 1011 | 857 | 861 | 3526 | 849 | 1027 | 953 | 844 | 3673
 | Source:  PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data:  Thomson Reuters