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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.

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Left behind by this good news is the Nike Zoom KD 11Kevin Durant Mens Basketball shoes AO2604-001 Size 7-12, which according to PWCMoneyTree / NVCA data accounted for nearly 30% of the $21 billion invested in venture-backed companies in 2010.

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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.

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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 ZOOM GENERATION LEBRON ASG QS ALL STAR GAME WHEAT SZ 7.5 [AQ0110-700],.

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There’s a perception that lots of Life Sciences deals lose money.  It’s true.  58% returned less than their invested capital.Nike ID Zoom KD V USA US13.5 UK12.5 Worn,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NIKE AIR HUARACHE WILL PREMIUM LEATHER ALL BLACK SZ 13 Leather worn 2 times,.g.,. top 1% of Tech deals almost certainly have higher multiples than LS).

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

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Nike Air Jordan Retro OG Sport bluee 6s Size 6 GS Kids OG Box Rare Worn Once,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike M2K Tekno Bianco men Platino Scarpa da Ginnastica Sneaker Sport Run UK,.

Nike Men's Air Jordan Future Boot Cool Grey Cool Grey-White 854554-003 size 11.5,.  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.2016 Nike Air Jordan 1 Retro High Wht Blk Pure Platinum Sz 12 (1191)839115-106,.  However, it has been shown by others that the recent web high flyers are mostly concentrated1810 Nike Air Zoom Pegasus 35 Men's Training Running shoes 942851-200,.

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

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Item specifics

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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.

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