Venture capital fund raising cooled in the first quarter of 2007, but other private equity funds raised money at record rates, according to the Dow Jones Private Equity Analyst.

In a report issued Monday, Private Equity Analyst said private equity firms brought in $44.3 billion, a 67 percent increase over the same period in 2006.

And 2006 was a strong year for private equity, with a record $246.3 billion generated by 359 funds.

Leading the way in the first quarter were 34 buyout firms raised more than $35 billion in the first quarter, according to Venture Wire, another Down Jones publication.

Another 400 funds are reportedly raising an additional $130 billion, the Dow Jones service reported.

Funds covered include buyout and corporate finance, venture capital, mezzanine and funds of funds.

The venture fund sector did cool off, however. Twenty-two funds raised $3.8 billion, down from $4.4 billion in the same quarter of 2006.

"The strength in fund raising this year shows the continued dominance of mega buyout funds which were responsible for 62 percent of the overall capital in the first quarter," said Jennifer Rossa, managing editor of Private Equity Analyst, in a statement. "However, there are expectations in the private equity industry that there will be more room for other fund raising strategies this year."