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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 Rare nike Air Max JR 442478-600 Red Hi Top Sneakers Leather Boots Size 11, 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.Air max 90 se black floral ,.

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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 Women's Air Max Thea LX 881203-201,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NIKE WOMENS FLIGHT 13 MID BASKETBALL SHOES ELECTRO PURPLE 616298 500,.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 Womens Air Huarache Run CS Running shoes 918411-001,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Nike Lunarsolo Light Pumice Navy-Barely Grey AA4080-016 Women's Size 10,.

Women's Nike Air Max 90 shoes Barely Grey Light Pumice Green Size 7 325213 053,.  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 PENNY III 3 (GS) WHITE-PURPLE EGGPLANT SZ 5Y-WOMENS SZ 6.5 [344987-102],.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike Wmns Air Huarache City Low Womens shoes different Size US 9 8 AH6804-100,.

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
Brand:

Nike

Style: Sportswear Shoe Model:

Air Max 90

Country/Region of Manufacture: Vietnam Modified Item: No
Width: Medium (D, M) US Shoe Size (Women's): 6
Color:

Mushroom | Smokey Blue

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  3. Womens Nike Air Huarache Run iD White Beige Black SZ 10.5 (777331-903),–  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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