NEW YORK: U.S. initial public offerings by venture-backed companies fell to a two-year low in the first quarter of 2015, according to data from the National Venture Capital Association and Thomson Reuters.
About 17 venture-backed companies raised $1.43 billion in the three months ended March, compared with 37 that raised $3.40 billion in the same period a year earlier, according to the report.
The last time the number fell below 20 was in the first quarter of 2013, when eight venture-backed companies raised $716.9 million.
Box Inc
Life sciences companies dominated the IPO market, with 13 of the 17 offerings coming from the sector.
The average amount raised was $84.3 million, down from $92 million in the first quarter of 2014.
Among venture-backed mergers and acquisitions, only 16 of the 86 during the quarter reported deal size. The average deal size was $128.1 million, compared with $245.8 million a year earlier.- Reuters
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