Arlington, Va. – Venture capital performance at the end of
the third quarter improved modestly across most time intervals, according to a
new report by the National Venture Capital Association (NVCA), based on data
compiled by Cambridge Associates.
The figures indicated the first signs of
recovery since the financial crisis of 2008.
"The third quarter of 2010
brought a change of direction to a performance trend that has been pointed
downwards for several quarters," said Mark Heesen, president of the NVCA.
"Based on the current market dynamics, we would expect this positive
reversal of fortune to continue into 2011 and bring the venture capital industry
back into positive territory."
Returns improved over the quarter, year,
three-year and 20-year horizons, though dipped slightly over 10- and 15-year
They remained the same over a five-year span.