Venture backed initial public offerings in the second quarter more than doubled, but failed to continue the momentum from May as the effect of the Blackstone float resonated even in the venture capital market.

According to data from Thompson Financial and the National Venture Capital Association, about $4.3bn (€3.2bn) was raised by 26 venture backed companies through offerings in the second quarter, a 112% jump from the same period in 2006 when $2bn was raised through 19 venture backed offerings.