Reuters Datastream. As of June 30, 2019 • Percent (%)[/caption]. Note: This is an older edition from this report series. Figure 3 shows the GICS sector breakdown of the private equity index and a public market counterpart, the Russell 2000® Index. Source: Cambridge Associates LLC, Nasdaq, and Factset Research Systems. The Web 2.0 “software is eating the world” tech revolution. The MSCI World Index represents a free float–adjusted, market capitalization–weighted index that is designed to measure the equity market performance of developed markets. The breakdown provides context when comparing the performance of the two indexes. As they decreased in aggregate, cash flows also moved closer to a state of equilibrium, as the difference between calls and distributions was less than a billion dollars in the second quarter. Cambridge Capital Group is a business angel network comprised of private investors, family offices, and venture funds that have been investing in technology startups across the UK's Golden Triangle for more than 15 years. NET FUND–LEVEL PERFORMANCE As of June 30, 2019 • USD Terms • Percent (%). The MSCI All Country World Index (ACWI) is a free float–adjusted, market capitalization–weighted index designed to measure the equity market performance of developed and emerging markets. In USD terms, four of the seven meaningfully sized countries in the index (accounting for 72% of its value) posted double-digit positive returns during the first two quarters (Figure 5); as with the sectors, returns in euro terms were slightly higher. During first quarter 2019, the US dollar strengthened, which hurt the return in USD terms, while the dollar weakened by the end of second quarter, boosting performance measured in USD terms (Figure 1). The funds in this index invest primarily in Africa, emerging Asia, emerging Europe, Latin America & Caribbean, and the Middle East ex Israel. suggest venture capital funding for blockchain start ups totaled $3.1B between January and October 2018, as compared to $1.2B in 2017 and just $0.5B in 2016. On a one-, three- and five-year horizon, Cambridge Associates data, the most widely cited benchmark of venture capital performance, shows that its index for European VC performance is either on par or significantly outperforming indices for both US VC and, importantly, European Private Equity. FIGURE 4 DEVELOPED MARKETS EX US PE/VC INDEX SECTOR RETURNS: The lowest-returning vintage, 2008, was impacted by write-offs in most sectors, but most notably IT. In first half 2019, just shy of 70% of the consumer staples write-ups were attributed to investments made by funds formed in 2007 and 2011. Figure 1 depicts performance for the private asset classes compared to the public markets. The four largest sectors—consumer discretionary, IT, healthcare, and industrials (in rank order)—represented 71% of the index’s value and, on a USD-weighted basis, returned 10.0%. Bringg. The pooled returns represent the net periodic rates of return calculated on the aggregate of all cash flows and market values as reported to Cambridge Associates by the funds’ general partners in their quarterly and annual audited financial reports. Cambridge Associates was founded by Harvard College roommates Hunter Lewis and James Bailey in … Cambridge Associates has hired Antonella Amatulli as an investment director., People, UK / Ireland, LPs, United Kingdom, people moves Status: 800 - Registered And Renewed Serial Number FIGURE 2 US PRIVATE EQUITY INDEX VINTAGE YEAR RETURNS: It raised $300 million in a Series E round at an $8 billion valuation after having raised Copyright © 2021 Cambridge Associates LLC. Ten years ago, as of June 30, 2009, the index included 1,303 funds whose value was $85 billion. In communication services (the smallest of the key sectors), write-ups were relatively modest, with vintage year 2012 seeing the highest amount of writeups. Sarah Grifferty, Senior Investment Associate Sourcing, Analytics, Execution. Caryn Slotsky, Senior Investment Director The communication services sector return resulted from muted write-ups in most vintages and write-downs in the 2007 and 2010 groups. Ten years ago, as of June 30, 2009, the index included 730 funds whose value was $286 billion. *** Capital change only. Adina Tecklu Is The VC Investing In The Next Generation | 30 Under 30 2019 IT and industrials were instrumental in driving performance for vintages 2016 and 2011, and healthcare was also a key contributor to the best-performing 2016 vintage. On the distributions front, managers with funds raised in four vintages (2007 and 2012–14) returned at least $1.0 billion to LPs, for a combined total of $6.4 billion, or 61% of the period’s total. Companies in developed European countries attracted 78% of the capital invested during the first two quarters, equaling the long-term norm for the region. Aggregate cash flow amounts dropped from the fourth quarter to the first and again from the first to the second, with distributions declining more in the first quarter and calls declining more in the second. In 2018, this vintage also produced the best return, topping 34.6% for the calendar year. The UK’s New National Security and the Investment Regime: Cutting Through the Noise. 2. Distributions were in the top ten of largest sums for any six-month period since the inception of the index in 1986—all ten occurred in the past six years. As of June 30, 2019 • USD Terms • Percent (%). 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