First-time fundraising bouncing back
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Middle market fundraising posted a strong showing in H1, according to PitchBook’s latest US Middle Market Report. $68.4 billion was raised through June, which puts 2021 on pace to approach the 2019 record. Even if it doesn’t, the middle market is set to bounce back from a decline last year. Although middle market funds represented a majority (and growing) 55% of PE fund closes in H1, they also represented a diminishing 48% of dollars raised, down from more than 60% in 2018.