FORTUNE — Fred Wilson is the best-known venture capitalist east of San Hill Road, thanks to both his wildly-popular blog and early investments in such companies as Etsy, Foursquare, Twitter and Zynga
. But in 2012, Wilson hasn’t done a single deal.
Don’t get me wrong: Wilson’s firm, Union Square Ventures, has made plenty of investments over the past 12 months. In fact, it has (just barely) put out more cash than in any other year since its 2004 founding. It’s just that Wilson hasn’t personally led any of them.
Wilson typically invests in two or three companies per year, and last year backed four of them. When asked what has changed in 2012, he didn’t really provide an answer. Just seems like the right opportunity hasn’t presented itself (although he apparently is working on a new deal that may or may not close before January).
It’s worth noting that Wilson isn’t alone when it comes to taking 2012 slow. Matt Cohler of Benchmark Capital, for example, said in late October that he had yet to do a new deal (although, like Wilson, some of his existing portfolio companies have done follow-on rounds). Sequoia Capital star Roelof Botha hasn’t led any Series A deals in 2012, although he did participate in the $50 million Series B round for Instagram — which agreed to be acquired just days later by Facebook
I’ve also heard a few other notable names, and am double-checking to make sure that something didn’t fly under the radar.
Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com