Venture capital investments hit a two-year high of $5.6 billion in Q2 2004 according to a survey by PricewaterhouseCoopers, Thomson Venture Economics, and the National Venture Capital Association. Early stage and first-time financings increased after declining for several years. Life sciences remained the dominant sector, receiving 25% of investments. Software was the top industry with $1.2 billion invested in 212 companies. Overall, investment levels were stable rather than exuberant, indicating a solid outlook for the venture capital industry.
In this edition of Valuation Insights we discuss the genesis of the new Certified in Entity and Intangibles Valuation ("CEIV") credential that was introduced this year by three of the Valuation Professional Organizations to enhance the transparency, quality and consistency of valuations for financial reporting purposes. The article also discusses the pathway to obtaining the credential and the Mandatory Performance Framework.
Other Topics Covered Include:
BEPS Action 13 and what companies need to know to satisfy the new requirements
Highlights from the 2017 Global Enforcement Review
Duff & Phelps' new transfer pricing documentation tool - BEPS Central Tracker
Industry market multiples for North America and Europe
In this edition of Valuation Insights we discuss recent changes in the administration of unclaimed property programs in the states of Delaware, Illinois and Texas, highlighting the need for companies to review their reporting requirements to ensure compliance and minimize the risk of audit.
Mercer Capital's Investment Management Industry Newsletter | Q3 2019 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Investment Management Industry Newsletter | Q4 2021 | Focus:...Mercer Capital
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Mercer Capital's Investment Management Industry Newsletter | Q3 2020 | Focus:...Mercer Capital
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Mercer Capital's Investment Management Industry Newsletter | Q4 2021 | Focus:...Mercer Capital
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Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
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DealMarket Digest Issue137 - 17 April 2014Urs Haeusler
SEE WHATS NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 137 - April 17th, 2014:
- Cravings for Direct Co-Investment Still Strong
- Narrow Niches and Big Returns
- Australian PE Backed IPOs Outperform
- The Traits of Family Wealth Managers That Make Money…. and Lose it
- CEOs Get M&A Fever Again
- Quote of the Week: Betting on Justice
Mercer Capital | A Layperson's Guide to the Option Pricing ModelMercer Capital
Mercer Capital's whitepaper on the option pricing model, often used to value ownership interests in early-stage companies. Developed in response to the need to reliably estimate the value of different economic rights in complex capital structures, the OPM models the various capital structure components as a series of call options on underlying total equity value. Through a detailed example, Travis W. Harms explains key concepts including breakpoints and tranches in a straightforward and non-technical way, taking the mystery out of OPM terms such as “breakpoint” and “tranche”. Relative to the probability-weighted expected return method, the principal strengths of the OPM include the small number of required assumptions and auditability. The PWERM, in contrast, offers greater flexibility and transparency. Harms closes with some thought on reconciling OPM results with the market participant perspective.
Mercer Capital's Investment Management Industry Newsletter | Q1 2020 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Global companies investing in the United States face unique opportunities and challenges. Doing business in the US reviews the key tax issues and provides insights to help investors navigate the US business environment.
Mercer Capital's Value Focus: Venture Capital | Mid-Year 2016Mercer Capital
Mercer Capital's Venture Capital newsletter provides perspective on some of the most relevant market trends affecting venture capital firms and other financial sponsors.
Mercer Capital's Investment Management Industry Newsletter | Q2 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
In this edition of Valuation Insights we discuss the genesis of the new Certified in Entity and Intangibles Valuation ("CEIV") credential that was introduced this year by three of the Valuation Professional Organizations to enhance the transparency, quality and consistency of valuations for financial reporting purposes. The article also discusses the pathway to obtaining the credential and the Mandatory Performance Framework.
Other Topics Covered Include:
BEPS Action 13 and what companies need to know to satisfy the new requirements
Highlights from the 2017 Global Enforcement Review
Duff & Phelps' new transfer pricing documentation tool - BEPS Central Tracker
Industry market multiples for North America and Europe
In this edition of Valuation Insights we discuss recent changes in the administration of unclaimed property programs in the states of Delaware, Illinois and Texas, highlighting the need for companies to review their reporting requirements to ensure compliance and minimize the risk of audit.
Mercer Capital's Investment Management Industry Newsletter | Q3 2019 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Investment Management Industry Newsletter | Q4 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Investment Management Industry Newsletter | Q3 2020 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Investment Management Industry Newsletter | Q4 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
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DealMarket Digest Issue137 - 17 April 2014Urs Haeusler
SEE WHATS NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 137 - April 17th, 2014:
- Cravings for Direct Co-Investment Still Strong
- Narrow Niches and Big Returns
- Australian PE Backed IPOs Outperform
- The Traits of Family Wealth Managers That Make Money…. and Lose it
- CEOs Get M&A Fever Again
- Quote of the Week: Betting on Justice
Mercer Capital | A Layperson's Guide to the Option Pricing ModelMercer Capital
Mercer Capital's whitepaper on the option pricing model, often used to value ownership interests in early-stage companies. Developed in response to the need to reliably estimate the value of different economic rights in complex capital structures, the OPM models the various capital structure components as a series of call options on underlying total equity value. Through a detailed example, Travis W. Harms explains key concepts including breakpoints and tranches in a straightforward and non-technical way, taking the mystery out of OPM terms such as “breakpoint” and “tranche”. Relative to the probability-weighted expected return method, the principal strengths of the OPM include the small number of required assumptions and auditability. The PWERM, in contrast, offers greater flexibility and transparency. Harms closes with some thought on reconciling OPM results with the market participant perspective.
Mercer Capital's Investment Management Industry Newsletter | Q1 2020 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Global companies investing in the United States face unique opportunities and challenges. Doing business in the US reviews the key tax issues and provides insights to help investors navigate the US business environment.
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Mercer Capital's Investment Management Industry Newsletter | Q2 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Real estate, followed by infrastructure, dominate real asset investing, according to a new global study. Learn why in our new report sponsored by BlackRock. More information: http://bit.ly/AraBlk
At mid-year, U.S. healthcare venture fundraising
reached $4.5 billion, and is on pace to closely match
the 2017 record of $9.1 billion. Great trends/insights from SVB.
Trends in Healthcare Investments and Exits 2018 - Mid-Year ReportSilicon Valley Bank
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Journal of Applied Corporate Finance • Volume 22 Number 2 A Mo.docxpriestmanmable
Journal of Applied Corporate Finance • Volume 22 Number 2 A Morgan Stanley Publication • Spring 2010 1
It Ain’t Broke: The Past, Present, and Future of Venture Capital
BT
by Steven N. Kaplan, University of Chicago Booth School of Business
and NBER, and Josh Lerner, Harvard Business School and NBER*
he U.S. venture capital (VC) industry is currently
subject to a great deal of uncertainty and contro-
versy. Some observers and practitioners believe
that the VC model is broken and that the U.S.
VC industry needs to shrink.1 In this paper, we put the U.S.
VC industry into its historical context, assess the current state
of the VC market, and discuss the implications of that history
and the current conditions for the future.
We begin by describing the fundamental problem that
entrepreneurs face and VCs need to solve in order to invest
successfully. There is a great deal of evidence to support what
is now a highly developed theory of how the U.S. VC model
provides an efficient solution to this basic problem of entre-
preneurial finance. And there is little doubt that the U.S.
venture capital industry has been very successful. A large
fraction of IPOs, including many that are now among the
most successful public companies in the world, have been
funded by VCs. And, where possible, the U.S. VC model has
been copied around the world.
Next we look at the historical patterns of commitments
to U.S. VC funds and investments in companies by those
funds. U.S. VC investments in companies have represented
a remarkably constant 0.15% of the total value of the stock
market over the past three decades—the period for which we
have reliable data. Commitments to VC funds, while more
variable, have been consistently in the 0.10% to 0.20% range.
These percentages have not changed in recent years.
Third, we consider the historical record on VC fund returns,
paying particular attention to returns of post-2000 “vintages.”
Contrary to the popular impression, we do not find that returns
to VC funds this decade have been unusually low (or high)
relative to the overall stock market. This is true despite the
relatively low number of IPOs. Overall, VC investment and
returns have been subject to boom-and-bust cycles over time.
Based on our historical analyses, we make some observa-
tions about the current situation and consider what is likely to
happen going forward. The level of commitments to and the
investment pace of VC funds since 2002 have been consistent
with the long-term historic averages. At the same time, the
returns relative to the overall stock market appear to have
been roughly average. This does not suggest to us that there
is too much money in U.S. VC, or that the VC model is
broken. Instead it appears to reflect the natural evolution of
a relatively competitive market.
In fact, given the unusual and unexplained paucity of IPOs
between 2004 and 2007, we argue there is more upside than
downside for the VC vint ...
DealMarket Digest Issue86 - 8th March 2013Urs Haeusler
SEE WHAT’S NEW AND NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 86 - 8th March 2013:
- Mutual Attraction: Family Offices and PE Fundraisers
- Survey Finds Investor Appetite for Big Buyout Funds
- PE Investors Eye Ista for $3.9 bn
- Doubts Linger About IPO as Exit in Europe
- Investments on the Rise in Latin America
- Quote of the Week: Sales Booster
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DealMarket Digest Issue 140 - 9th May 2014Urs Haeusler
SEE WHATS NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 140 - May 9th, 2014:
- Buoyant: MENA M&A Gains Momentum
- Fire Sale: PE Bidders Sought in Billion Dollar Minimax Deal - Draft
- Price is No Object in Silicon Valley’s Race for Technology Dominance
- Big Deals: SWFs, Family Offices Go Directly Into Euro Venture Capital Market
- First-Time PE Fundraising Bottoming Out?
- Quote of the Week: Getting Emotional Post-M&A
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
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To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
1. Embargo - FINAL 7/23/04
Contacts:
Emily Mendell, National Venture Capital Association, 610-359-9609, emendell@nvca.org
Laura Beck, Porter Novelli for PricewaterhouseCoopers, 512-241-2231, laura.beck@porternovelli.com
Jesse Reyes, Thomson Venture Economics, 973-645-9734, jesse.reyes@thomson.com
VENTURE CAPITAL HITS TWO-YEAR HIGH IN Q2 2004
WITH $5.6 BILLION INVESTED
-- Early Stage and First-Time Financings Begin to Rise --
Washington, D.C., July 27, 2004 – The steady upward trend in venture capital continued
in the second quarter of the year with investments of $5.6 billion going into 761
companies according to the MoneyTree Survey by PricewaterhouseCoopers, Thomson
Venture Economics and the National Venture Capital Association. This figure compares
to $5.0 billion invested in the first quarter of 2004 and $5.4 billion in the fourth quarter of
2003. Over the past two years, quarterly investing has drifted upward at a deliberate pace,
ranging from $4.3 billion to this quarter’s high of $5.6 billion.
Tracy Lefteroff, global managing partner of the venture capital practice at
PricewaterhouseCoopers, said: “We see ‘refined optimism’ in the market. Investment
levels are realistic, not exuberant. There is a more balanced mix of investing between
earlier and later stage companies. And, the IPO window is open, though temperate. The
pieces are in place for solid years ahead.”
Mark Heesen, president of the National Venture Capital Association, observed: “Venture
capitalists are responding to the recent spate of positive indicators in a very measured and
calculated manner. And, their continued discipline is critical to the performance of the
asset class going forward. After months of anecdotal evidence that VCs are investing in
more early stage and first-time deals, it is encouraging to see the statistics indicating that
we are moving back to our roots: funding exciting, cutting edge companies early on and
over the long term.”
Stage of Development and 12-Month Average Valuations
A total of 229 companies in the Early stage of development were funded in Q2 2004, the
highest number since Q2 2002. Proportionately, they accounted 30% of all companies,
the highest percentage since Q1 2001. And, Early stage companies captured $1.17 billion
or 21% of all venture capital in the period, well above recent quarters. Average funding
per company of $5.1 million exceeded the $4.6 million average over the prior four
quarters. Further, the average valuation of Early stage companies inched upward after
2. Embargo - FINAL 7/23/04
three years of decline. The average post-money valuation for the 12 months ending Q1
2004 was $13.1 million, compared to $12.6 million for the period ending Q4 2003. (Note
that valuation data lags investment data by one quarter.)
Expansion stage companies, which typically account for the largest total dollars and
number of deals increased slightly, as well. Expansion stage funding was $2.8 billion in
Q2 2004 or 50% of all investing, compared to $2.6 billion and 51% in Q1 2004. Average
funding per company at $8.1 million exceeded the $7.5 million average over the prior
four quarters. Valuations rose more significantly. The average post-money valuation for
the 12 months ending Q1 2004 was $50.3 million, compared to $41.9 million for the
period ending Q4 2003.
Later stage funding was flat. Investments in Q2 2004 were $1.6 billion or 28% of all
investing versus $1.6 billion and 31% of all investing last quarter. Average funding per
company was $11.3 million, up from the $9.6 million average of the last four quarters.
Valuations also increased. The average post-money valuation for the 12 months ending
Q1 2004 was $71.8 million, compared to $61.3 million for the period ending Q4 2003.
According to Jesse Reyes, vice president at Thomson Venture Economics, “The increase
in early stage fundings is a promising sign that older companies already in portfolios are
now healthier and may be self-sustaining. And, new investment can be focused on
emerging companies and technologies. Increased valuations across the board are
probably linked to better equity markets in the first half of the year, and robust companies
in the investment pipeline.”
First-Time Financings
After languishing at historically low levels, companies receiving their first round of
venture capital rebounded in Q2 2004 to their highest level in two years. A total of $1.2
billion or 21% of all venture capital went to these companies, compared to $981 million
and 19% of fundings in Q1 2004. In terms of number of companies, 208 first-timers
accounted for 27% of all companies receiving financings in the second quarter, up from
172 and 25% of all companies in the previous quarter. Average funding per company was
essentially flat at $5.6 million reflecting continued emphasis on capital efficiency.
First-time fundings in the Life Sciences sector jumped significantly in dollars invested
with $232 million this quarter compared $142 million in Q1 2004. But, the number of
new Life Sciences companies was flat at 39. The number of Software companies
increased from 42 in the first quarter to 51 in Q2 2004. At the same time, the dollar
amount of funding fell from $290 million to $250 million in Q2 2004.
No other industries demonstrated a marked change from recent trends with the exception
of an unusually large first-sequence deal in the Media & Entertainment industry and drop
in the Semiconductor industry attributable to relatively smaller first round dollar
amounts.
3. Embargo - FINAL 7/23/04
Sector And Industry Analysis
The Life Sciences sector (Biotechnology and Medical Devices, together) continued to
dominate other industries as it has for the past eight consecutive quarters. Investments in
the sector totaled $1.41 billion or 25% of all venture capital. Proportionately, Life
Sciences investing remained near historical highs.
Compared to the prior quarter, Biotechnology decreased slightly to $923 million or 17%
of all investing. Medical Devices jumped 40% to $485 million or 9% of all dollars. A
total of 85 Biotechnology and 70 Medical Device companies were funded during Q2
2004.
The Software Industry held on to the top slot in the second quarter of 2004 as the single
largest industry category. Software companies garnered $1.2 billion going into 212
companies; both figures were comfortably above the prior quarter. The decline abated in
the Networking industry with 44 companies getting $459 million in mostly follow-on
rounds. The Telecommunications industry did not fair as well with a decline from Q1
2004 to $518 million going to 59 companies in Q2 2004, again mostly in follow-on
rounds.
Increased levels of investing were scattered across a variety of other industry segments,
accounting for the overall rise in total investing. The Media & Entertainment industry
more than doubled to $346 million on the strength of two very large deals.
Semiconductors increased 17% to $437 million. Other changes from the prior quarter
were less dramatic.
###
Note to the Editor
When referencing information included in this release or other venture capital investment
information produced by the three MoneyTree Alliance partners, the information should
be cited in the following way: “The MoneyTree™ Survey by PricewaterhouseCoopers,
Thomson Venture Economics and the National Venture Capital Association”, or
“PricewaterhouseCoopers/Thomson Venture Economics/National Venture Capital
Association MoneyTree™ Survey”. After the first reference, subsequent references may
refer to PwC/TVE/NVCA MoneyTree Survey, PwC/TVE/NVCA or MoneyTree Survey.
Charts and tables displaying the data are sourced to PricewaterhouseCoopers/Thomson
Venture Economics/National Venture Capital Association MoneyTree™ Survey. After
the first reference, subsequent references may refer to PwC/TVE/NVCA MoneyTree
Survey, PwC/TVE/NVCA or MoneyTree Survey.
About the PricewaterhouseCoopers/Thomson Venture Economics/National Venture
Capital Association Money Tree Survey
4. Embargo - FINAL 7/23/04
The MoneyTree™ Survey measures cash-for-equity investments by the professional
venture capital community in private emerging companies in the U.S. The survey
includes the investment activity of professional venture capital firms with or without a
US office, SBICs, venture arms of corporations, institutions, investment banks and
similar entities whose primary activity is financial investing. Where there are other
participants such as angels, corporations, and governments in a qualified and verified
financing round the entire amount of the round is included. Qualifying transactions
include cash investments by these entities either directly or by participation in various
forms of private placement. All recipient companies are private, and may have been
newly-created or spun-out of existing companies.
The survey excludes debt, buyouts, recapitalizations, secondary purchases, IPOs,
investments in public companies such as PIPES (private investments in public entities),
investments for which the proceeds are primarily intended for acquisition such as roll-
ups, change of ownership, and other forms of private equity that do not involve cash such
as services-in-kind and venture leasing.
Investee companies must be domiciled in one of the 50 US states or DC even if
substantial portions of their activities are outside the United States.
Data is primarily obtained from a quarterly survey of venture capital practitioners.
Information is augmented by other research techniques including other public and private
sources. All data is subject to verification with the venture capital firms and/or the
investee companies. Only professional independent venture capital firms, institutional
venture capital groups, and recognized corporate venture capital groups are included in
venture capital industry rankings.
MoneyTree Survey results are available online at www.pwcmoneytree.com,
www.ventureeconomics.com, and www.nvca.org.
The National Venture Capital Association (NVCA) represents approximately 450
venture capital and private equity firms. NVCA's mission is to foster greater
understanding of the importance of venture capital to the U.S. economy, and support
entrepreneurial activity and innovation. The NVCA represents the public policy interests
of the venture capital community, strives to maintain high professional standards, provide
reliable industry data, sponsor professional development, and facilitate interaction among
its members. For more information about the NVCA, please visit www.nvca.org.
The PricewaterhouseCoopers Private Equity & Venture Capital Practice is part of
the Global Technology Industry Group, www.pwcglobaltech.com. The group is
comprised of industry professionals who deliver a broad spectrum of services to meet the
needs of fast-growth technology start-ups and agile, global giants in key industry
segments: Networking & Computers, Software & Internet, Semiconductors, Life
Sciences and Private Equity & Venture Capital. PricewaterhouseCoopers is a recognized
leader in each industry segment with services for technology clients in all stages of
growth.
5. Embargo - FINAL 7/23/04
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and
advisory services for public and private clients. More than 120,000 people in 139
countries connect their thinking, experience and solutions to build public trust and
enhance value for clients and their stakeholders.
Unless otherwise indicated, “PricewaterhouseCoopers” refers to PricewaterhouseCoopers
LLP, a Delaware limited liability partnership. PricewaterhouseCoopers LLP is a member
firm of PricewaterhouseCoopers International Limited.
Thomson Venture Economics, a Thomson Financial company, is the foremost
information provider for equity professionals worldwide. Venture Economics offers an
unparalleled range of products from directories to conferences, journals, newsletters,
research reports, and the Venture Expert™ database. For over 40 years, Venture
Economics has been tracking the venture capital and buyouts industry. Since 1961, it has
been a recognized source for comprehensive analysis of investment activity and
performance of the private equity industry. Venture Economics maintains long-standing
relationships within the private equity investment community, in-depth industry
knowledge, and proprietary research techniques. Private equity managers and
institutional investors alike consider Venture Economics information to be the industry
standard. For more information about Venture Economics, please visit
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