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T H O M S O N F I N A N C I A L. State of the PE Market Global VC and PE Trends. Ed Vincent Gemma Postlethwaite. US Venture/Buyout Industry Six Year Comparison. Source: Thomson Venture Economics/NVCA. Global VC Fundraising Capital Raised by VC Funds; 2000-YTD 2005.
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T H O M S O N F I N A N C I A L State of the PE MarketGlobalVC and PE Trends Ed VincentGemma Postlethwaite
US Venture/Buyout Industry Six Year Comparison Source: Thomson Venture Economics/NVCA
Global VC Fundraising Capital Raised by VC Funds; 2000-YTD 2005 Source: Thomson Venture Economics / NVCA
Global Buyout Fundraising Capital raised by Buyout Funds; 2000-YTD 2005 Source: Thomson Venture Economics/NVCA
Global Venture Investment Activity2000-YTD 2005 Source: PwC / Thomson Venture Economics / NVCA MoneyTree™ Survey
US Venture Sector Analysis2000 Source: PwC / Thomson Venture Economics / NVCA MoneyTree™ Survey
US Venture Sector AnalysisYTD 2005 Source: PwC / Thomson Venture Economics / NVCA MoneyTree™ Survey
US Venture Stage AnalysisYTD 2005 Source: PwC / Thomson Venture Economics / NVCA MoneyTree™ Survey
Global Buyout Investment Activity2000-YTD 2005 Source: Thomson Venture Economics/NVCA
US Venture-Backed IPO By number of IPO’s and Offer Amount 2001-YTD 2005 Source: Thomson Venture Economics/NVCA
US Venture-Backed M&A By number of Deals & Value 2001-YTD 2005 Source: Thomson Venture Economics/NVCA
Thomson Venture Economics – Performance database • Maintained by Thomson Venture Economics since 1969 • 1771 US Funds formed 1969-2004 • 956 European Funds 1980-2004 • 230 Other International Funds formed 1980-2004 • 74 Funds of Funds • Information Requirements • Firm Information • Fund Information • Portfolio company investment • Transaction details • Cashflows – capital calls, distributions, net asset values
Benchmarking Purposes Provide industry-standard benchmarking products for use in commitments, asset allocation and due diligence • Provide information and appropriate transparency crucial to: • Provide critical information in the due diligence process • Make private equity an asset class with replicable benchmarks
US Venture FundsAnnualized Net Cumulative IRR by Vintage YearAs of December 31, 2004 Source: Thomson Venture Economics/NVCA
U.S. Venture CapitalSince Inception Realization Multiples (DPI/RVPI)by Vintage Year as of December 31, 2004 Source: Thomson Venture Economics/NVCA
Venture Economics Private Equity Performance Index (PEPI)Pooled IRR net to investors as of December 31, 2004All funds formed 1969-2004 Source: Thomson Venture Economics/NVCA
Private Equity Net Returns to Investors*From Inception to December 31, 2004 V C BUYOUTS *US Funds formed 1969-2004 European Funds formed 1980-2004 Source: Thomson Venture Economics/NVCA/EVCA
European vs. US Private EquityCumulative IRR Since Inception to Dec 31, 2004 by Calendar Year US EUROPE *US Funds formed 1969-2004 European Funds formed 1980-2004 Source: Thomson Venture Economics/NVCA/EVCA