【6A文】国外经典工作报告PPT模板.ppt

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1、AVentureCapital!Revival!IsUponUsR.I.P.10Yearsago…Thedecadebeganonahighnote…butquicklyevolvedintoextraordinarydifficulttimes."CLEARSTONEUnstableSituation"VentureCapitalEnvironment-Circa2000/2001"2000/2001TrendDirection…ValuationsCapitalavailabilityFundcommitments#ofActiveFirms

2、Trackingindex–NASDAQTechnologyspendingVeryhighSubstantial$83B&BigOverhang13384000HistoricallyHighFallingBeginningtotightenShrinkingAtahighbutgoingdownFallingrapidlyDroppingquickly$B2010050403080706019961997199819992000200120022003$12$17$27$57$83$45$19$9VCFundraisingandPerfor

3、mance"PlummetAftera7XIncreaseinCapitalinJust4years$90VC Exists:  ‘01 – ‘09Inthe2000s"VentureCapitalExitsShiftedfromIPOstoLessValuableM&AIPO42%VC Exits: ‘91 – ‘00M&AVCExits:‘01–‘09IPO12%10YearsLater….CLEARSTONEbreakoutThemarketisnowpoisedfor"performance.Conditionshaveimproved

4、considerablyhelpedbya"reductionincapitalandfirms.$B$30$20$10$0$70$60$50$40VentureCapitalFundraising"HasBeeninDeclineSince2007$90$8020002001200220032004200520062007200820092010$83$45$19$9$21$28$30$37$27$15$12VenturecapitalfundingcommitmentstoITareevenlessthanmeetstheeye.Becaus

5、e……MuchoftherecentLPfundingtoventurecapitalhasgoneintoCleantechCleantechShare"VentureInvestmentsUp8XCleantechinvestmentshavecrowded-outothersectors,furtherdecreasingfundsdirectedtowardsITinvesting.TheUSeconomyhasgrownalmost50%since2000"yet…Thereislessventurecapitalundermanag

6、ementtodaythantherewas10yearsago.$B$225$253$253$254$262$270$277$255$204$1793002502001501005002000200120022003200420052006200720082009VenturecapitalinvestmentsarenowoutpacingnewfundingcommitmentsbyLPs,drainingthepoolofinvestablecapital."VentureCapitalAssetsUnderManagementAre"

7、LowerTodayThanTheyWereaDecadeAgo$TVentureCapitalFundraisingAsa%ofGDP"HasRapidlyFallen$10.0$10.3$10.6$11.1$11.9$12.6$13.4$14.1$14.4$14.1$14.70.2%0.0%1.0%0.8%0.6%0.4%$16$14$12$10$8$6$4$2$02000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010VentureCapitalfundraisingasa%ofGDPh

8、asbeendecliningsince2000.Consider…CLEARSTONEAmericanReinvestmentandRecovery