Slideshow: CalPERS’ Recent Vintage Brand Name Venture Funds Show Promising IRRs, Largely (Part II)

PeHUB earlier this week ran a slideshow with the California Public Employees’ Retirement System’s holdings of brand name venture funds.

These investment vehicles dated from 2005 and before, and for the most part illustrated the difficulties GPs have had making late dot-com bubble and post bubble funds pay off. The posted IRRs, updated through December 2010, were generally unimpressive.

Today we publish Part II, a selection of CalPERS brand name venture funds from 2006 and later. They tell a different story. Many sport promising IRRs and hold out prospects of even better returns, now that life has sprung back into the IPO and M&A markets.

Funds from Khosla Ventures, Foundry Group, Battery Ventures and VantagePoint Venture Partners, for instance, all show strong starts, given their relative young age. They are signs of a changing venture landscape.

In case you missed the earlier slideshow, I will point out again that CalPERS, the nation’s largest public pension fund, owns stakes in about 217 venture capital funds, with the holdings making up 9% of its private equity portfolio.

Like many pension managers, it has shown recent apprehension about the asset class. The fund made 24 venture investments in 2008, but bought into only seven new funds in 2009 and four in 2010, according to a peHUB analysis of the organization’s online data.

Unfortunately, CalPERS didn’t offer an overall return for its venture portfolio in the data. But it reports that its venture holdings have a value of $2.6 billion and unfunded commitments of $1.76 billion, for a total exposure of $4.36 billion. Its contributions to venture add up to $4.4 billion.

Here is a selection of its recent vintage brand name holdings, arranged alphabetically. Given the recent shifts in the venture landscape, I bet it wishes it bought more.

[slideshow]

[slide title=”Austin Ventures IX”]

Vintage: 2006

Cap In: $14.3 million

Cap Out: $1 million

Portfolio Value and Cap Out: $13.7 million

IRR: -1.8%

[slide title=”Battery Ventures VIII”]

Vintage: 2007

Cap In: $5 million

Cap Out: $232,000

Portfolio Value and Cap Out: $5.8 million

IRR: 8.4%

[slide title=”Battery Ventures VIII Side Fund”]

Vintage: 2008

Cap In: $1.8 million

Cap Out: $0

Portfolio Value and Cap Out: $2.1 million

IRR: 14.7%

[slide title=”Foundry Venture Capital 2007″]

Vintage: 2007

Cap In: $6.9 million

Cap Out: $1.1 million

Portfolio Value and Cap Out: $17 million

IRR: 62.3%

[slide title=”Highland Capital Partners VII”]

Vintage: 2006

Cap In: $5.2 million

Cap Out: $760,265

Portfolio Value and Cap Out: $4.96 million

IRR: -2.1%

[slide title=”Highland Consumer Fund I”]

Vintage: 2007

Cap In: $8.6 million

Cap Out: $0

Portfolio Value and Cap Out: $5.7 million

IRR: -15.4%

[slide title=”Institutional Venture Partners XIII”]

Vintage: 2010

Cap In: $1.4 million

Cap Out: $0

Portfolio Value and Cap Out: $1.3 million

IRR: -32.8%

[slide title=”Khosla Ventures III”]

Vintage: 2009

Cap In: $78 million

Cap Out: $184,612

Portfolio Value and Cap Out: $102 million

IRR: 34.4%

[slide title=”Khosla Ventures Seed”]

Vintage: 2009

Cap In: $14.1 million

Cap Out: $10,480

Portfolio Value and Cap Out: $19.2 million

IRR: 42.3%

[slide title=”New Enterprise Associates XII”]

Vintage: 2006

Cap In: $37.5 million

Cap Out: $3.4 million

Portfolio Value and Cap Out: $39.4 million

IRR: 2.3%

[slide title=”New Enterprise Associates 13″]

Vintage: 2009

Cap In: $1.2 million

Cap Out: $114,527

Portfolio Value and Cap Out: $1.3 million

IRR: 3.8%

[slide title=”RockPort Capital Partners II”]

Vintage: 2006

Cap In: $12.8 million

Cap Out: $0

Portfolio Value and Cap Out: $13.2 million

IRR: 1.1%

[slide title=”RockPort Capital Partners 3″]

Vintage: 2008

Cap In: $6.9 million

Cap Out: $0

Portfolio Value and Cap Out: $3.8 million

IRR: -38%

[slide title=”Trinity Ventures IX”]

Vintage: 2006

Cap In: $19.1 million

Cap Out: $4.3 million

Portfolio Value and Cap Out: $21.7 million

IRR: 5.4%

[slide title=”VantagePoint CleanTech Partners”]

Vintage: 2006

Cap In: $18.8 million

Cap Out: $2.1 million

Portfolio Value and Cap Out: $27.9 million

IRR: 14.5%

[slide title=”VantagePoint Venture Partners 2006″]

Vintage: 2006

Cap In: $50 million

Cap Out: $3.1 million

Portfolio Value and Cap Out: $43.8 million

IRR: -6.3%

[slide title=”VantagePoint CleanTech Partners II”]

Vintage: 2008

Cap In: $25.8 million

Cap Out: $0

Portfolio Value and Cap Out: $29.5 million

IRR: 11.7%

[/slideshow]