VC funds bid era of double-digit returns goodbye

The yearslong era of venture capital outperforming other private market asset classes is likely coming to an end.

An abundance of near-free capital and a robust IPO market allowed venture capital funds to post double-digit percentage returns in nearly every quarter from Q4 2017 through Q1 2022, according to PitchBook's 2022 Global Fund Performance Report. But by this year's second quarter, the venture funds' internal rate of return turned negative. READ MORE