Venture capital firms are having their own problems raising new money from limited partners. Capital inflows in the first quarter were down 31 percent annually to $3.6 billion in the U.S., according to the National Venture Capital Association . Venture funds were also down 11 percent from the fourth quarter. Only 32 funds were able to raise money in the first quarter, down from 44 last quarter and 57 a year ago. Only 5 new funds were launched, with the vast majority of the money going to established funds, including Battery Ventures and Oak Investment Partners. Both raised new $750 million funds.