October 1, 2014 / 11:29 PM / 3 years ago

U.S. venture-backed IPOs fall in value, number

SAN FRANCISCO (Reuters) - Venture-backed initial public offerings fell in value in the United States compared with a year ago, according to data from the National Venture Capital Association and Thomson Reuters, even as the overall IPO market strengthened.

Some 23 venture-backed companies raised $2.56 billion in the third quarter, down from 27 companies that raised $2.78 billion a year earlier, according to the report.

Not included in the numbers: Chinese start-up Alibaba Group Holding Ltd (BABA.N), which raised $25 billion in September on the New York Stock Exchange but was not a start-up backed by traditional venture capitalists.

The biggest IPO was Mobileye MBLY.N, an Israeli driver-assistance software company that raised $1 billion on NYSE in July. Most of the IPOs were held by life-sciences companies. The average amount raised was $111.4 million, up from $103 million a year earlier.

Of venture-backed mergers and acquisitions, only 32 of 119 deals during the quarter reported deal size. The average deal size was $248.2 million, compared with $161.9 million a year earlier.

Reporting by Sarah McBride; Editing by Lisa Shumaker

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