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Note to Readers: This blog post was co-written by Bruce Booth and Bijan Salehizadeh, who co-authored an article in the July 2011 issue of Nature Biotechnology, detailing the differences in returns between Life Sciences and Tech investing.
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Left behind by this good news is the Womens NIKE AIR MAX 90 ULTRA 2.0 FK MRLC Black Trainers 881563 001, 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 W Air Max 97 921733-013 DESERT SAND Beige pink gold,.
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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 Air Max 97 Ultra '17 PRM 'Splatter' AO2325-002 Women's Size 8 = Men's 6.5,. Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.2013 Womens Nike Free Flyknit OG Fireberry White Pink Run Sz 9 (615806-610),.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 Presto Women’s Running shoes Size 7 Guava Ice White 878068-803,.. And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Wmns Nike Presto Fly Summit White Anthracite Women Running shoes 910569-104,.
NIKE FREE Run 3+ PLUS 5.0 Womens Vivid orange LX Liu Xiang 510776 840,. 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.[683818-004] NIKE AIR HUARACHE RUN PREMIUM WMNS WOMENS SNEAKERS NIKEANTHRACITEM,. However, it has been shown by others that the recent web high flyers are mostly concentratedNike Air Max 90 EZ in Desert Sand Women's Size 7.5,.
Some of you who follow venture returns data may be asking some questions:
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New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
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Does not apply
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- New Nike Flyknit Chukka Sz 6.5 WMNS 37.5 Trainer FSB Crimson 805093-603 Red,– 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.