Are Venture Returns About to Cycle?
Yes. We do expect venture capital (VC) returns to be negatively impacted in the coming quarters but doubt that impact will be as pronounced and wholesale as it was during the dot-com era.
Private Equity/Venture Capital
While Great Entrepreneurs Leap, Great Investors Plan
As entrepreneurs know well, the process of creating and managing a successful business is complex and requires great skill, insight, and hard work. Successful management of significant wealth requires similar attributes; however, not all the characteristics fundamental to entrepreneurial success translate to effective portfolio management. This paper presents five recommendations for those looking to build an investment framework that can be as successful and personally rewarding as building a business.
Private Company Operating Metrics: Global Analysis
Our annual analysis comparing private equity globally with public peers.
Review of Market Performance: Calendar Year 2021
The global economy continued its road to recovery in 2021, as the most severe economic impacts of the COVID-19 pandemic gradually receded. There were fresh waves of infection during the year, but the public health actions taken to counter them were less economically damaging. In the meantime, fiscal and monetary policy remained at extremely accommodative levels, supporting strong risk-asset performance.
Global ex US PE/VC Benchmark Commentary: First Half 2021
In the first six months of 2021, according to Cambridge Associates indexes, private equity and venture capital in the developed markets outperformed those in emerging markets.
US PE/VC Benchmark Commentary: First Half 2021
In the first half of 2021, US private equity and venture capital returns continued the torrid pace that started in second quarter 2020.
Under the Microscope: Private vs Public Company Operating Metrics for US Companies
This analysis includes our observations on key metrics by which private equity managers execute their strategy.
Outlook 2022: Flying at a Lower Altitude
A compilation of our investment views for 2022.
Venture Capital Will Continue to Crush It
Globally, the venture capital (VC) industry will continue to evolve as capital floods in seeking compelling returns that can be had for those willing to wait.
Interest in Private Investments Continues to Expand
Investors with mature private investment programs tend to have private exposure to major developed markets, such as the United States and Europe. While many of these investors have added Chinese exposure to their private programs over the last decade, interest has recently increased in less-trafficked Asian markets and more specialized European strategies. We expect this interest will continue to expand next year.