Men's Men's Men's Nike Air Jordan 13 Retro Melo Class of 2002 Size 11.5 (414571 035) fcfd8d

Posted July 11th, 2011 in Exits IPOs M&As, VC-backed Biotech Returns

Note to Readers: This blog post was co-written by Bruce Booth and Bijan Salehizadehwho co-authored an article in the July 2011 issue of Nature Biotechnologydetailing the differences in returns between Life Sciences and Tech investing.

Nike Air Max 270 Racer bluee Hyper Crimson-Black (AH8050 401),

Nike Air Jordan Spike Forty Basketball shoes 819952-605 Red Blk Ghost Men SZ 13,

Left behind by this good news is the Nike Air Jordan XXXII Low, Black Unversity Red White, AA1256 002, Ice,S 11.5, which according to PWCMoneyTree / NVCA data accounted for nearly 30% of the $21 billion invested in venture-backed companies in 2010.

Nike Sock Dart QS Safari Mens 942198-300 Turbo Green White Running shoes Size 11,

Men's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8dMen's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8dMen's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8dMen's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8dMen's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8dMen's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8dMen's Men's Men's Nike Air Jordan 13 Retro  Melo Class of 2002  Size 11.5 (414571 035) fcfd8d

NIKE MENS VARSITY COMPETE TRAINER 4 BLACK CRIMSON SHOES 2019 BEST SELLER,.

As we outline in our paper in the July issue of Nature Biotechnology, LS venture investing dramatically outperformed Tech venture investing over the past decade.

Nike Air Max 1 Just Do It JDI SE mens SZ 8 W,

NIKE Air Max Plus Quilted Mens 806262-200 Size 8.5,

Overall Life Sciences/Healthcare venture realized gross pooled mean IRR was 15.0% for the past decade.  This is in contrast to 5.5% for all of venture capital, 3.0% for IT and 4.1% for Software.Nike Air Max Plus EF Mens AH9697-213 Velvet Brown Sail Running shoes Size 10.5,.

NIKE AIR ZOOM GENERATION ASG QS AQ0110-700 'WHEAT gold' LEBRON JAMES Sz 9,

NIKE AIR MAX 90 97 ULTRA BR WHITE N.47,5 RUNNING BEAUTIFUL NEW OKKSPORT 97,

There’s a perception that lots of Life Sciences deals lose money.  It’s true.  58% returned less than their invested capital.Nike Jordan Superfly 4 JCRD, Soar Copa Navy, 175, 812870 403, Sz 10.5,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NIKE AIR MAX 270 MEN's CASUAL BLACK - WHITE - TOTAL orange AUTHENTIC NEW SIZE,.g.,. top 1% of Tech deals almost certainly have higher multiples than LS).

Hombre Nike Air Jordan 1 Retro bajo Og Prem-905136402 - blue whiteo Beis,.

But, as one would expect, not all of the news for Life Sciences is rosy:

Nike Exp-14 Se Mens Running Trainers Ao3095 Sneakers shoes,

Nike Air Max 1 Grey Gum 705282-005 Men Size US 10 NEW 100% Authentic,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.NEW Nike Magista Opus II FG Soccer Cleats orange 843813 801 Men's Size 9 ACC,.

DS NIKE 2012 AIR MAX 1 GYM RED 10.5, 11, 13 ATMOS SUPREME PATTA SAFARI 90 97 95,.  IPOs are media darlings, and help create buzz about sectors.  In LS, we aren’t likely to have that type of buzz anytime soon.

Our data and analysis of course has some short-comings.Nike Men's Zoom I Get Buckets Basketball shoes color blueE,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike Air Force1 Low shoes White Red. Classic AF1 Exclusive - Men's Size 10.5,.

Some of you who follow venture returns data may be asking some questions:

  1. NIKE AIR MAX 90 BLACK BLACK MENS RUNNING SHOES BEST SELLER, Air Jordan 6 VI Retro Sz 10 Alternate Hare 384664-113,  
  2. Nike Air Huarache Run Ultra Mens Black shoes Trainer Sneaker Sport,NIKE ZOOM SPIRIDON BLACK METALLIC gold 849776-770 MEN'S SIZE 9.5,Nike Air Foamposite One Electrolime Size 10.5,
  3. Jordan Air Future Black White Metallic gold Black Men's Trainers BNWB,

Nike Air Force 1 Premium Ricamato black Pallido Avorio Bambini Ragazzi Ragazze, We think that there are a few reasons:

  1. NIKE AIR JORDAN 1 MID SE 852542-007 BLACK METALLIC gold WHITE MENS 7.5 - 13, – NIKE 638471-403 Men AJ1 KO HIGH OG Jordan Obsidian White RED Bronze,
  2. 2007 Nike Dunk Low Pro SB Border bluee White Sz 10.5 (L059) 304292-411, – NIKE LUPINEK FLYKNIT LOW SAIL-BLACK-ANTHRACITE SZ 11.5 [882685-100],New Nike Air Max 2015 Men's Size 11 Running shoes Black Hot Lava 698902-008,
  3. WORN ONCE Nike Air Jordan 8 Retro White Infrared 23 Black 305381-142 Three Peat,–  Unlike IT where 100x returns are possible and have driven great outcomes in companies like Skype and Google, and will most likely in Zynga and Facebook, Life Sciences never will have these wild “Black Swan” outliers.. These 100x’ers are the companies that draw press attention, new talent, and more capital into the IT space.
  4. Nike Air Force 1 '07 3 White Deep Royal AO2423-103 AF1 Low Mens shoes Sneakers, – Air Jordan XIII 13 Retro Low VTG OG 2005 Men 13 White Midnight Multi Athletic,
  5. Nike Mens Air Huarache Space bluee and Volt Trainer 318429 043 size, – NIKE iD AIR MAX 270 WHITE RACER PINK '3.26 Air Max Day' [BQ0742-997] US MEN SZ 6,Nike LeBron XVI I'm King Men's New Black Metallic gold James 8.5 BQ5969-007,

Nike Zoom KD 9 PRM Aunt Pearl Size 11.5. 881796-060 jordan kobe,

To get all of the numbers and the full commentary, please head over to the Nature website.

For simplicity’s sake, in this post, we use the term Life Sciences to cover all of Healthcare venture capital investing and the term IT/Tech to cover all Information technology, Internet/Software, and Hardware related categories.

MENS NIKE AIR MAX 95 ID GREY-WHITE-BLACK-DARK GREY SZ 10 [818592-995],

This entry was posted in Exits IPOs M&As, VC-backed Biotech Returns. Bookmark the permalink.