More Evidence on End of Overhang

According to VentureOne , funds raised since 1999 have effectively no more money for new investments.  While the data is based on a sample of funds and the text is misleading, the survey’s conclusion is encouraging.  They estimate that the 1999+ vintage funds have called all their capital, but have not yet spent $53.6 million.  They call this "overhang" and then correct themselves by clarifying that all of this money is reserved for fees and follow-on investments.  In other words, the net overhang is zero.  This means less competition in venture for the current vintage of funds.