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dc.contributor.authorMcKenzie, Michael
dc.contributor.authorJaneway, William
dc.date.accessioned2010-05-19T10:55:30Z
dc.date.available2010-05-19T10:55:30Z
dc.date.issued2008
dc.identifier.urihttp://www.dspace.cam.ac.uk/handle/1810/225150
dc.description.abstractIn this paper, the investment performance of a large database of venture funds is considered over a 28 year period. The results suggest that a portfolio of venture capital partnerships can provide an average return that is superior to the public equity market, although the individual fund returns are highly positively skewed. Absent these outliers, the level of fund performance is more in line with public equity market returns. This paper also establishes a link between public equity market conditions and venture capital returns. Finally, some preliminary evidence is provided of venture fund performance during and immediately following the dot.com bubble.en
dc.language.isoenen
dc.publisherCFAP, Cambridge Judge Business School, University of Cambridgeen
dc.relation.ispartofseriesCFAP Working Paperen
dc.relation.ispartofseries30en
dc.titleVenture Capital Fund Performance and the IPO Marketen
dc.typeWorking Paperen
dc.type.versionpublished versionen


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