The number of completed global venture capital deals has declined three straight quarters, falling from 1,867 in 2Q 2013 to 1,348 in the first quarter of 2014, early quarter-end data from PitchBook show. Comparing 1Q 2014 to the same quarter in 2012 and 2013, the decline is even greater, with 1,967 financings in 1Q 2012 and 1,856 in 1Q 2013 compared to the 1,348 in the first quarter this year. Despite this drop, total capital invested has actually increased over the previous two quarters, reaching $15.4 billion in 1Q 2014—the most capital venture capital firms have ever invested in a single quarter.

Venture Capital Fundraising Infographic

Venture Capital Fundraising infographic

Via PitchBook Blog