Returns, risks and liquidity of VC Funds in Q1 2020
Our latest Quarterly Report on VC market performance shows that active VC funds delivered an impressive performance in 2019. The last quarter of 2019 broke the performance record, while Q1 2020 remained almost unaffected by the economic recession. Meanwhile, the selection risk decreased, pointing at favorable market conditions that fund managers could capitalize on.
The US has driven a global progression of TVPIs in Q4 2019, while WE remained muted. Q1 2020 marks a pause after the strong overall progression of TVPIs in 2019. Vintage year 2012 is poised to outperform the historical average in the US and WE, with TVPI being higher than 2.0x in both regions.