Arlington Va. – Short-term venture capital investments
improved, while longer-term investments continued to suffer for the period
ending Dec. 31, according to new figures from Cambridge Associates and the National
Venture Capital Association (NVCA).
Specifically, quarterly and one-year
returns came in at 3.3% and 3%, respectively — each higher than the previous
quarter and year.
Five and 10-year returns, however, deteriorated, with the
10-year horizon falling into negative territory.
"Signs of an exit market
rebound began to take shape at the end of last year and have gradually taken
hold in the first half of 2010, resulting in short term improvements in venture
capital performance," said Mark Heesen, president of the NVCA.
"However, these exits are still not at a high enough level to have a
positive impact on the three-, five- and 10-year return numbers which have
suffered over the last year."