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Venture Capital Performance

by Etienne Paresys

  • 27 Aug 2010
  • PE

Analyzing the median ratios of called-up to committed capital, distributed to paid-in capital and remaining value to paid-in capital for venture funds of vintages 1980-2009, the results demonstrate the lasting effect that the dot-com crash has had on the venture capital sector. The median fund for each vintage from 1980 to 1997 has distributed at least 1.5 times investors’ capital contributions. The median vintage 1999 fund’s total value is significantly below the total amount paid in by investors, having suffered as a result of the burst of the dot-com bubble. The median total value is around 100% of investors’ contributions for vintages 2000-2002, and is lower than this for later vintages. The median funds of vintages 2006 onwards have not yet made any significant distributions. Funds of vintages 2007-2009 are still early in their investment lives and have significant amounts of dry powder available to them.

The data in this analysis was compiled using Preqin’s Performance Analyst. Please click for further information about private equity performance.

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