Global venture capital funds clocked their best-ever returns last year — and they did it while taking only moderate levels of risk, according to eFront’s latest quarterly private equity performance overview.
During the past two quarters, the multiple on invested capital — total value to paid-in, or TVPI — for active venture capital funds approached 1.6x, reported eFront, the software and research firm for alternative investments owned by BlackRock. TVPI is a standard measure of the value a fund creates for investors.
