2007 Investment Benchmarks Reports: U.S. Venture Capital
U.S. Venture Capital report delivers comprehensive performance information and analysis US venture capital partnerships formed between 1969 and 2004, representing $US195 billion in capitalization.
- Aggregate statistics from a database of over 1,160 partnerships
- Performance statistics by vintage year, by composite portfolio and by time horizons analyzed by stage, fund size and sequence.
- More than 420 tables, charts and graphs to complement the analysis
U.S. Venture Capital report comprises ten chapters and a four-section appendix.
- Chapter I: Introduction & Executive Summary summarizes key results of the report
- Chapter II: User’s Guide/Methodology provides a guide to using the report and discusses report methodology in detail
- Chapter III: Vintage Year Analysis is the most extensively used and consequently the most comprehensive chapter in the book. This chapter analyzes the performance of the funds formed from 1969 to 2001 by “vintage year” or year of fund formation. This represents the heart of the book and provides the benchmarks necessary to compare individual fund performance
- Chapter IV: Liquidated Funds analyses the performance of over 336 liquidated funds formed from 1969 to 1998
- Chapter V: Top Performers analyzes the returns to funds in the first quartile of their respective years
- Chapter VI: Analysis by Characteristic analyzes returns to funds by stage focus, fund size and sequence of fund. It also analyzes fund takedown and cash flow scheduling by stage focus, size and sequence
- Chapter VII: The Young Funds provides preliminary performance benchmarks to funds formed from 2002 to 2005
- Chapter VIII: Composite Analysis provides analysis on aggregate industry performance for the entire industry as well as for composite portfolios of funds formed between 1969 and 2005
- Chapter IX: Asset Class Comparison and Correlation Analysis provides analysis of correlation statistics and performance information key to performing asset allocation and portfolio optimization modelling. It also discusses problems in applying traditional optimization techniques to private equity
- Chapter X: Performance by Industry shows performance of funds by another characteristic: the industry they invest in. It analyzes funds that have invested at least 60 percent of their capital in a particular industry.
- Appendices A through D include a comprehensive explanation of calculating fund performance with IRR calculations, a Glossary of Terms, industry reference statistics, and Thomson Financial's policy on data collection and compilation
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