Australian Venture Fund Performance Continues At A Smart Pace

The land down under is on top.

Venture capital performance continues at an impressive pace in Australia, according to Cambridge Associates and the Australian Private Equity and Venture Capital Association.

Annualized one-year returns as of the end of March were 7.7% and five-year return were 4.8%. While three-year performance lagged at 1.5%, no surprise given the global downturn of the past couple years, 10 year returns were 7.8%.

Sounds like drought and wild fires had little impact on startup boardrooms.

In a press release, Cambridge and the Australian venture association said 2008 vintage funds and investments made in 2009 and 2010 are registering double digit IRRs. The performance index put together by the two organizations covers about 70% of money raised by venture and PE firms.

The upbeat first quarter performance continues a trend seen over the past three quarters.