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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 New Nike Free 5.0 Womens Running shoes Sneakers 580591 400, 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.New NIKE Womens Air Max 1 Ultra Flyknit Running Size 8.5,.

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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 Wmns Free RN 2018 bluee Pink White Women Running shoes Sneakers 942837-403,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.WMNS Nike Air Max 97 UT SZ 9.5 Sequoia Neutral Olive AJ2248-300,.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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RARE CUTE Converse High Kids 162944C HELLO KITTY Chuck Taylor Men 7.5 WOMEN 9.5,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Flyknit Triple White Goddess Cream Yeezy Racer 526628 100 Men 7.5, Women 9,.

NIKE Women's W Air Force 1 07 SE PRM HK, Port Wine Port Wine-Space bluee, 6.5 US,.  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.Women nike all zoom out size 8,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike WOMEN'S SF AF1 SE Premium Port Wine Space bluee SIZE 8.5 BRAND NEW,.

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

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Item specifics

Condition:
New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Stylenumber: AA4080-404
Style: Athletic Color:

DARK SKY BLUE/CHROME-GLACIER BLUE

Width: Medium (B, M) Brand:

Nike

US Shoe Size (Women's): 5 Gender: Womens
UPC:

Does not apply

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  3. Nike Air Huarache Run Ultra Womens 819151-603 Pink Bone Running shoes Size 5,–  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.
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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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