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Alternative Market Briefing

Venture Capital funds outperform despite uncertainty

Friday, October 22, 2021

Bailey McCann, Opalesque New York:

Venture capital funds worldwide recorded the best performance among all private capital strategies in the first quarter of 2021, according to the latest data from Pitchbook. VC funds had an internal rate of return of 19.8% for the quarter.

PitchBook's preliminary returns data for Q2 2021 also shows venture capital ranked first among private strategies, followed by funds-of-funds, secondaries, and debt.

Benchmark data shows that buyout and growth funds are also doing well - returning 17.8% and 17.1%, respectively. On the other end of the performance spectrum, were real estate and real assets, with respective IRRs of 5.4% and 3.4%.

Private capital strategies are swimming in dried powder which, was at record levels before the pandemic and have only kept climbing. Many VC funds are generating returns with investments in human resources tech startups, Pitchbook notes. HR tech startups have collected more than $9.2 billion in VC funding globally, a 130% jump from 2020's total.

The pandemic turned HR into a frontline position, and VCs are interested in funding software that makes those jobs easier. As well as making data collection and analysis more comprehensive. Many of these new services help with employee onboarding and training for virtual teams. Other services manage data collection and policy analysis. HR software that integrates with remote office platforms like Zoom and Microsoft teams is also popular with VCs.......................

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