More on Lumpy VC Fund-Raising
VentureBeat has some updated numbers on VC fund-raising. I agree that you can't read much into these numbers on a year to year basis. VC funds are raised once every 3-4 years at each firm. So, the fund-raising can be pretty lumpy. And, some firms raise very large funds which skew the numbers. I think it is good that fund-raising has slowed down as there is a lot of money in the market right now chasing VC deals.
As for China, that feels like a bubble to me. There certainly are plenty of opportunities in China, but the large volume of dollars raised now is mostly late-comers to the market. As in the Internet bubble, those who got in late lost their shirt. I don't know if it is already late, but the clock is certainly ticking.