After the Goldrush A Survey of European Venture Capital Firms The European venture capital industry has been undergoing a period of profound transformation since the implosion of the TMT bubble. After the Goldrush, a survey of 125 of the leading European venture firms, presents a detailed overview of the state of the market. This confidential survey was supplemented by in-depth interviews and discussions with venture firms and limited partners. The result is an analysis of what institutional investors look for in a venture fund and how venture firms themselves compare in terms of strategy, operations and fundraising plans. The report also examines competition, the prospect for consolidation, and the characteristics of those firms that will survive the ongoing shake-out.       Edition: First Format: Research Report ISBN: 1-904620-03-5 Published: October 2002 Buy Report Online Presentation in Adobe PDF Format: WILL BE E-MAILED TO YOU. £100.00 (Click to Buy) UK customers: 17.5% VAT will be added to the above price. EU customers: 17.5% VAT will be added to the above price where a valid VAT number is not supplied by you. Non- EU customers: No VAT will be added to the above price NB: Orders can take up to 5 working days to be processed. Please note, orders can only be cancelled if the product has not yet shipped to you. After products have been dispatched, no refunds can be given. See below for full terms and conditions. Table of Contents SECTIONS Executive Summary Venture Sectors Venture Teams Deal Flow Competition Adding Value Generating Returns Exits Future Trends Fundraising The Limited Partner Perspective Appendix A: Overview of Respondents Appendix B: European Venture Investing FIGURES Main sectors for investment Regional variations in venture sectors Firms investing outside the home country Average number of investment professionals in venture teams Average years of private equity experience per team member Percentage of venture teams with specific professional experience Professional bias of European venture firms - part 1 Professional bias of European venture firms - part 2 The average European investment process Average number of deals screened per firm each year Percentage of deals completed as a proportion of deals screened Ratio of completed deals per investment professional Sources of deal flow Main factors in investment decision-making Proportion of completed deals where firms faced competition Main sources of competition Proportion of firms that see locals VCs as competition Best ways of beating the competition Most important ways of adding value Investment approach of European venture firms Investment approach of UK venture firms Investment approach of French venture firms Investment approach of German venture firms The best way of generating returns UK firms' views on the best ways of generating returns German firms' views on the best way of generating returns Expected average annual venture returns over the next five years Expected returns compared to past performance (net annual IRR) Proportion of firms that describe themselves as top quartile Expected exit routes over the next two years IPOs as a share of total expected exits over the next two years Desired changes to European public markets Desired changes to European markets by country Expected future trends Most likely trends Expectations of consolidation Desired developments to improve condition in Europe for private equity activity Venture firms planning to raise a fund in the next 12 months Percentage of funds being raised by region Expected time taken to raise a new fund (months) How fundraising has changed over the past two years European LPs commitments to private equity stages, present and future Top five European venture firms, as voted by European institutions Breakdown of respondents Breakdown of respondents by capital under management Average fund size Average year of first funds raised by European venture firms Venture funds raised in Europe 1999-2001 Venture funds raised in the UK 1999-2001 Venture funds raised in Germany 1999-2001 Venture funds raised in France 1999-2001 Report Ordering: Delivery, Terms & Conditions and FAQs.