Building a new venture fund is super interesting, deeply inspiring, and… far from easy. I know many young teams, who are raising their first fund and debating about the right fundraising strategy. At Begin Capital, we are always happy to share our own fundraising experience, but it is important to be objective and make comprehensive research. With this in mind I decided to analyze other VC funds, that were in the same position. Pulling historical data from Dealroom, I ended up with 186 first time VC funds that were launched in 2015-2020 worldwide. The dataset that I've got was not perfect: Dealroom's coverage outside of North America and Europe is poor and also many smaller funds are missing. However, it was good enough to answer some of my questions and hopefully might be useful for other daring first time fund managers.