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While venture investing outside the U.S. has come a long way in recent years, our analysis shows it remains an entirely different industry than U.S. venture capital. And when we say different, we mean totally different.

We looked at venture investment trends in 2007-2011 from PitchBook and compared them with VC exit results in 2012-2016 to very roughly compare investment in one five-year period with exit results in the ensuing next five years, roughly matching VC investment cycles.

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