BVCA Private Equity and Venture Capital ... - BVCA admin
BVCA Private Equity and Venture Capital ... - BVCA admin
BVCA Private Equity and Venture Capital ... - BVCA admin
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16 <strong>BVCA</strong> <strong>Private</strong> <strong>Equity</strong> <strong>and</strong> <strong>Venture</strong> <strong>Capital</strong> Performance Measurement Survey 2011<br />
Returns by investment stage – IRR <strong>and</strong> multiple<br />
Continued<br />
Since-inception return – IRR (% p.a.) by vintage year<br />
No. of funds To Dec '11 To Dec '10 To Dec '09 To Dec '08 To Dec '07 To Dec '06 To Dec '05 To Dec '04 To Dec '03 To Dec '02 To Dec '01<br />
1980-84 13 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5<br />
1985-89 68 13.7 13.7 13.7 13.8 13.8 13.8 13.8 13.8 13.8 13.8 13.8<br />
1990 13 11.3 11.3 11.3 11.4 11.3 11.3 11.1 11.1 11.1 11.6 11.5<br />
1991 14 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.3 23.3 23.3 23.3<br />
1992 7 20.3 20.3 20.3 20.3 20.3 20.3 20.3 20.3 20.2 20.1 20.0<br />
1993 10 15.1 15.2 15.0 15.2 15.3 15.3 14.8 14.0 14.6 14.6 14.6<br />
1994 19 34.3 34.3 34.3 34.3 34.3 34.3 34.4 34.4 34.3 34.3 34.9<br />
1995 9 23.1 23.1 23.1 23.1 23.1 22.2 21.9 21.9 21.8 22.8 25.7<br />
1996 13 17.6 17.8 17.8 19.1 18.7 18.7 18.6 18.5 19.0 20.1 22.0<br />
1997 24 15.0 15.0 15.1 15.3 15.6 14.7 14.9 14.3 14.3 13.7 17.6<br />
1998 16 12.9 12.8 12.9 12.9 12.5 12.2 10.8 10.6 9.3 6.3 n/a<br />
1999 24 9.7 8.6 8.0 8.0 15.8 8.8 6.2 1.5 -2.0 n/a n/a<br />
2000 26 16.6 16.6 16.2 14.1 16.7 14.9 8.7 4.8 n/a n/a n/a<br />
2001 30 25.2 26.1 26.6 27.4 29.1 28.3 23.4 n/a n/a n/a n/a<br />
2002 19 26.1 26.1 25.5 27.0 30.8 26.6 27.7 n/a n/a n/a n/a<br />
2003 18 22.0 23.7 17.5 25.4 32.1 23.4 22.2 n/a n/a n/a n/a<br />
2004 10 26.4 32.0 34.1 41.3 41.1* 25.8 -5.8 n/a n/a n/a n/a<br />
2005 26 7.4 9.4 8.4 4.2 19.4 24.0 -8.0 n/a n/a n/a n/a<br />
2006 36 2.4 5.2 -11.8 -12.7 7.2 100.6 n/a n/a n/a n/a n/a<br />
2007 38 8.9 12.6 5.1 4.1 24.7 n/a n/a n/a n/a n/a n/a<br />
Total* 433 14.3 15.3 15.9 16.4 17.3 16.0 14.4 13.0 13.6 14.6 16.2<br />
2008 22 7.8 5.8 -5.7 -2.5 n/a n/a n/a n/a n/a n/a n/a<br />
2009 20 -10.4 8.7 15.5 n/a n/a n/a n/a n/a n/a n/a n/a<br />
2010 13 37.9 140.8 n/a n/a n/a n/a n/a n/a n/a n/a n/a<br />
2011 13 -36.9 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a<br />
Subtotal 2008-2011 68 6.0 11.5 -6.3 -2.1 18.2 27.9 20.7 n/a n/a n/a n/a<br />
* The ‘total’ figures for each year end are based on funds that were at least four years old at the relevant year end.
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