vehicles investing across all stages. ... metrics for over 7,400 named vehicles. ... 4: Top 10 Consistent Performing GPs
View the full edition of Spotlight at: https://www.preqin.com/docs/newsletters/pe/Preqin-Private-Equity-Spotlight-May-2015.pdf
Early Stage Venture Capital Performance
The Facts
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Early Stage Venture Capital Performance Emma Underwood investigates the difference in performance between early stage funds and venture capital vehicles investing across all stages. Fig. 2: PrEQIn Early Stage vs. Venture Capital and All Private Equity (Rebased to 100 as of 31 December 2005)
PrEQIn Early Stage
PrEQIn Venture All Stages
PrEQIn Early Stage
31-Dec-13
31-Dec-12
0.0 31-Dec-05
31-Dec-13
31-Dec-12
31-Dec-11
31-Dec-10
31-Dec-09
31-Dec-08
31-Dec-07
31-Dec-06
31-Dec-05
31-Dec-04
31-Dec-03
31-Dec-02
31-Dec-01
0.0
50.0
31-Dec-11
20.0
100.0
31-Dec-10
40.0
150.0
31-Dec-09
60.0
31-Dec-08
80.0
200.0
31-Dec-07
100.0
250.0
31-Dec-06
Index Returns (Rebased to 100 as of 31-Dec-2005)
120.0
31-Dec-00
Index Returns (Rebased to 100 as of 31-Dec-2000)
Fig. 1: PrEQIn Early Stage vs. Venture Capital (Rebased to 100 as of 31 December 2000)
PrEQIn Venture All Stages
Source: Preqin Performance Analyst
Source: Preqin Performance Analyst
Fig. 3: Early Stage All Regions Median Net IRR and Quartile Boundaries by Vintage Year (Most up-to-date)
Net IRR (%) since Inception
100.0
Data Source
80.0
Preqin’s Performance Analyst is the industry’s most extensive source of net-to-LP private equity fund performance, with full metrics for over 7,400 named vehicles.
Top Quartile Boundary Net IRR
60.0
Median Net IRR 40.0
Access comprehensive performance data and fund details, including historical data and information on portfolio companies, and create customized peer groups to compare funds’ performance data against custom benchmarks.
Bottom Quartile Boundary Net IRR
20.0 0.0
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2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
-20.0
Vintage Year Source: Preqin Performance Analyst
Fig. 4: Top 10 Consistent Performing GPs* (Early Stage, Early Stage: Seed and Early Stage: Start-up) Firm ff Venture Capital Sequoia Capital Spark Capital Union Square Ventures Charles River Ventures Bay Partners BlueRun Ventures Canaan Partners Divergent Ventures Avalon Ventures
Location
Fund Type
Overall No. of Funds with Quartile Ranking
No. of Funds in Top Quartile
No. of Funds in Second Quartile
Average Quartile Rank
US US US
Early Stage Early Stage Early Stage: Start-up
3 3 3
3 3 3
0 0 0
1.00 1.00 1.00
US
Early Stage
3
3
0
1.00
US
Early Stage
4
3
1
1.25
US US US US US
Early Stage Early Stage Early Stage Early Stage Early Stage: Seed
3 3 3 3 8
2 2 2 2 5
1 1 1 1 2
1.33 1.33 1.33 1.33 1.50
Source: Preqin Performance Analyst *Produced 30 April 2015 and based on a universe of 17 firms and 63 funds meeting the selection criteria.
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