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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 180.00 Mens Adidas A3 Twinstrike Running Training shoes (Sz 12.5) BA7235 Black, 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.Adidas Originals Continental 80 in Grey Grey Scarlet CG7128 BNIB,.
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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.Adidas Originals X_PLR, Men's, Red, Size 13,. Furthermore, the frequency of 5x or greater returns are higher in Life Sciences – 8% vs. 4% for IT.NEW ADIDAS ORIGINALS ZX FLUX MEN'S RUNNING SHOES MULTI COLOR KNIT WHITE BB2772,.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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New Mens adidas Prophere Trainers - Grey Solar Red Textile,.. And, post-IPO performance has been dramatically better in IT than it has been in Life Sciences.Adidas Mens Performance PowerAlley 4 Mid Metal Baseball Cleats Black Size 11.5,.
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Our data and analysis of course has some short-comings.Mens Adidas Superstar Originals White Black - Size 8,. However, it has been shown by others that the recent web high flyers are mostly concentratedAdidas Originals Handball Top Liga Tennis Men Sneaker Mens shoes CQ2313,.
Some of you who follow venture returns data may be asking some questions:
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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.