Wilshire's Alternatives 2024 Outlook updates readers on the future prospects for private equity, private real assets, venture capital, infrastructure, private credit, and hedge funds across the U.S., Europe, and Asia Pacific.
There was $170.6 billion of VC investment into the U.S. economy in 2023. Overall, the United States accounted for 49% of total world VC deal value, the highest level since 2014. Dry powder hit a record of $311.6 billion, roughly 26% of total VC AUM. Median fund size was $35.4 and the largest fund raised in 2023 was $4…
Key trends identified in this report: average headcount by revenue and capital raised; averaged valuation, funding, and revenue for private companies; cash and equity compensation for founders & non-founder executives; cash and equity compensation by region; and remote work participation.
After record years in 2020 and 2021, growth of the U.S. life sciences industry has returned to a more normal pace in 2023, although demand for lab/R&D space remains well above pre-pandemic levels. Life sciences employment reached a record high at the start of 2023, although the rate of growth slowed. The San Francisco…
The U.S. VC ecosystem ended 2022 with 16,464 VC deals (more than half of which took place in H1), with $240.93 billion invested into American companies, the second highest year on record, behind 2021. While headline figures for the year compare favorably to the recent past, closer scrutiny reveals an industry that has…
The authors present new evidence on the persistence of U.S. buyout and venture capital (VC) fund performance using high quality cash-flow data sourced from Burgiss’s large sample of institutional investors. Using ex post returns, they find that persistence of VC funds has remained remarkably strong. They also find…
Large investments in low-carbon technologies are needed to limit global warming. This column uses data on U.S. start-ups over the past 20 years to analyse how venture capital in clean technologies can address the funding gap. It argues that unsuccessful nationwide U.S. climate policy has dampened demand for clean energy…
Large investments in low-carbon technologies are needed to limit global warming. This column uses data on U.S. start-ups over the past 20 years to analyse how venture capital in clean technologies can address the funding gap.
This article studies the development of the venture capital (VC) industry in the United States and assesses how VC financing affects firm innovation and growth. The results highlight the essential role of VC financing for U.S. innovation and growth and suggest that VC development in other countries could promote their…
In 2021, London hit the same level of venture capital investment as the Bay Area reached five years ago. London is the most attractive European city for U.S. VC investment. Fintech dominates both London and Bay Area funding.
U.S. venture capital (VC) activity reached new heights in 2021. For the first time ever, fundraising for VC funds topped $100 billion, VC investment into companies surpassed $300 billion, VC-backed IPOs raised more than $500 billion, and disclosed VC-backed M&A transactions exceeded $100 billion. With 14,411 VC-backed…
Probitas’ latest annual survey was taken over the last week of October 2021 and the first two weeks of November and the underlying private market trends for 2021 were set in investor’s minds at that point. In private equity, looking ahead to 2022 investors were heavily focused on U.S. and European Buyouts, U.S. Growth…
In the Verus October 2021 Private Equity Outlook, the authors focus on investor appetite for ESG and the growing response from private equity. The outlook also addresses: private equity in the face of Covid, SPACs' path to the public markets, U.S. private credit markets, and soaring venture capital valuations.
By the end of 2020, only 0.72% of all active U.S. mutual funds had finished in the top quartile every year since 2016. Among mutual funds, mid-cap funds displayed the highest degree of persistence: 1.47% of them have finished in the top quartile for five consecutive years. Given the rise of passive equity investment products…