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1Q 2013 Private Equity & Venture Capital Benchmarking Report Presentation Slide Deck

1Q 2013 Private Equity & Venture Capital Benchmarking Report Presentation Slide Deck. Try the PitchBook Platform: Email:  demo@pitchbook.com Phone: 1-877-267-5593. Consult the Research Team: Email: research@pitchbook.com Phone: 1-877-636-3496. The PitchBook Platform.

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1Q 2013 Private Equity & Venture Capital Benchmarking Report Presentation Slide Deck

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  1. 1Q 2013 Private Equity & Venture Capital Benchmarking Report Presentation Slide Deck Try the PitchBook Platform: Email: demo@pitchbook.com Phone: 1-877-267-5593 Consult the Research Team: Email: research@pitchbook.com Phone: 1-877-636-3496

  2. The PitchBook Platform REQUEST A DEMO:demo@pitchbook.com 1-877-267-5593

  3. NAV Index

  4. NAV Index Methodology PitchBook’s newly designed NAV Index tracks the quarter-to-quarter change in aggregate NAV for various assets classes. The quarterly change in NAV is calculated by applying the formula below to all funds tracked by PitchBook, then taking the median value for all funds. Quarterly Percentage Change = [(NAV at end of quarter + distributions during the quarter – contributions during the quarter) / NAV at beginning of quarter] – 1

  5. Private Equity Has Consistently Outperformed Both VC and Public Markets since 2001NAV Index for PE (dark blue), VC (light blue), S&P 500 (orange)

  6. Since 2007, the Net Change in NAV for VC and the S&P 500 is Virtually the SameNAV Index for PE (dark blue), VC (light blue), S&P 500 (orange)

  7. Multiple Fund Type IRRs

  8. Buyout Funds Were the Top Performers in the Early 2000s, but Mezzanine Funds Have Outperformed in the Post-Crisis EraGlobal Average IRR by Vintage Year

  9. The Performance of VC Funds Has Consistently Lagged Other Alternative Fund Types Over the Last DecadeGlobal Median Horizon IRRs

  10. Private Equity Fund Returns

  11. Outside of the Most Recent 1-Year Period, Smaller PE Funds Have Underperformed the Rest of the IndustryMedian PE Horizon IRR by Fund Size

  12. The Spread in Performance Between Fund Sizes Has Decreased in More Recent VintagesMedian PE IRR by Fund Size and Vintage Year

  13. Top Quartile Funds No Longer What They Used to BeGlobal PE IRR Quartiles by Vintage Year

  14. Mid-Decade Funds Still Showing Effects of the CrisisGlobal Average PE Fund Return Multiples: DPI (dark blue), RVPI (light blue), TVPI (orange)

  15. The Majority of PE Funds Have Done A Good Job in Preserving and Growing Their ValueGlobal PE TVPI Quartiles by Vintage

  16. Recent PE Funds are Taking Longer to Return Capital to Their InvestorsGlobal PEMedian DPI by Vintage Year Over Time

  17. U.S. PE Cashflows Turned Positive in 2011 as the Result of Strong Fund DistributionsU.S. PE Funds Annualized Cashflow ($B) by Year *

  18. European PE Performance Has Trailed the U.S. in the 1-, 3-, and 5-Year Horizon PeriodsMedian Horizon IRR by Fund Location

  19. The Last Several Years of European PE Vintages Have Struggled to Match Earlier PerformanceAverage IRR by Vintage Year and Region

  20. Global PE IRR League Table

  21. Global PE IRR League Tables

  22. Global PE IRR League Tables Continued

  23. Venture Capital Fund Returns

  24. Venture capital fund performance has been disappointing over the last decade, but returns have improved over the most recent 1-year and 3-year time periods.

  25. $250 to $500 Million Funds Look to Be the Sweet Spot for Venture Fund PerformanceGlobal Median VC Horizon IRR by Fund Size

  26. More Than a Quarter of All VC Funds Raised Since 2001 Currently Have a Negative IRRGlobal VC IRR Quartiles by Vintage 2nd Quartile

  27. Despite Slow Distributions, 2001 to 2010 Vintage VC Funds Have an Average TVPI of at Least 1.0xGlobal Average VC Fund Return Multiples By Vintage Year

  28. Fund Selection Proves to Be Critical in Venture Investing, as Even Some 2nd Quartile Funds are in the RedVC TVPI Quartiles by Vintage Year

  29. The Median Venture Fund Does Not Cross the 1.0x DPI Threshold Even After 11 YearsMedian VC DPI by Vintage Over Time

  30. Strong Distributions Have Kept U.S. VC Cashflows Positive For VC Fund LPs since 2010U.S. VC Annualized Cashflow ($B) by Year

  31. Global VC IRR League Table

  32. Global VC IRR League Table

  33. Global VC IRR League Table Continued

  34. Performance Benchmarks by Fund Type

  35. In this video, you’ll learn how to: • Access the most robust database on PE and VC fund returns. • Create fund benchmarks that match your fund’s peer group. • Use our fully transparent data to validate your benchmark. VIDEO: Better Intelligence & Fund Benchmarkingwith the PitchBook Platform WATCH NOW: http://pitchbook.com/Create_Fund_Benchmarks.html

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