Venture capital returns have begun to recover with exits from companies such as LinkedIn, Zynga, Jive Software and Imperva fueling liquidity. Funds from 2007 and 2008 are good examples of the renewal.
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Venture fund performance began to recover from the excesses of the bubble years in 2003 and 2004 before dipping again in the following two years of 2005 and 2006. There are signs these now mid-life funds with ’05 and ’06 vintages are starting to hit a better stride.
The endowment committed $337.5 million to 11 funds in 2010 and 2011, according to its November portfolio report. Nine focus on technology or allocate some portion of their funds to tech. Two zero in on health care.
Cortec Group expects to close its fifth buyout fund at its $620 million hard cap on Wednesday, a source close to the fundraising effort told Buyouts. The New York-based shop raised $600 million in commitments from LPs, and principals at the firm are committing an additional $20 million. The firm’s target had been $500 million. [...]