The amount raised by venture capital-backed companies through initial public offerings in the three months to September 30 passed through the $1bn (€800m) mark for the first time this year, with 19 companies raising a total of $1.5bn.

It was also the third quarter in a row in which venture capital-backed M&A deal value passed the $3bn mark, according to a new survey by the National Venture Capital Association and Thomson Venture Economics.