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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 WORN TWICE Nike Lebron XI Premium NBA 2K14 Size 11 Challenge Red Metallic gold, 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 Jordan Gift of Flight Pack DS 10.5 Receipt Authentic,.


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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.NEW Nikelab AF 1 Mids Brown Leather - 905619-200. Size 9,.  Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.2017 Nike Air Foamposite Pro Silver Surfer Size 15. 616750-004 . penny chrome,.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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Mens Size 8.5 Nike Lunar Force 1 Duckboot '17 PRM White AA1123 100 Waterproof,..  And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.2018 Nike Air Jordan 18 XVIII Retro Campfire orange Size 15. AA2494-801,.

Nike CMFT PRM AS QS All Star Comfort Dunks Size 13 VNDS,.  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 AIR JORDAN 1 RETRO ROOKIE OF THE YEAR 555088-700 sneaker BROWN US 11,.  However, it has been shown by others that the recent web high flyers are mostly concentratedNike air footscape nm legion mens 11,.

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

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  3. AIR JORDAN 1 RETRO HIGH OG “GAME ROYAL” 2018 - ITEM NUMBER 3498-2,–  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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