Venture capital and later stage private equity is high risk capital directed towards businesses with prospects of rapid growth and/or high rates of returns. It is an investment not only of money, but also of skills and time. This publication presents information on both financial and non-financial contributions to venture capital and later stage private equity investments.
Australian Bureau of Statistics (ABS) undertook the first survey of venture capital for the period 1999-2000 and has since undertaken this survey annually at the request of, and with the financial support of, the Department of Industry, Tourism and Resources. The scope of the 2005-06 survey was defined to formally include later stage private equity investments, as well as venture capital.
ABS have conducted all surveys with the advice and assistance of users, industry bodies and data providers.
ABOUT THIS ISSUE
This is the sixth annual release of ABS catalogue no. 5678.0. This issue presents the results of the 2005-06 Venture Capital and Later Stage Private Equity Survey and compares results with the 1999-2000 to 2004-05 surveys.
CHANGES IN THIS ISSUE
A review of the Venture Capital Survey in 2006 examined the scope of the survey, clarified the definition of venture capital and reviewed user requirements. The review found that definitions of venture capital varied across users and data providers and, in particular, the distinction between venture capital and later stage private equity was unclear. The review confirmed that previously published results from the Venture Capital Survey included later stage private equity and this was made explicit by renaming both the survey and this publication. Despite the name change, the results from the 2005-06 survey are directly comparable to results from the previous surveys. The review also resulted in the collection of additional information, some of which is included in this issue.
The numbering of tables in both this issue and the associated time series files has changed from the previous issue. However, all available historical data can be obtained from the time series files associated with this issue.
The presentation of source of funds of investment vehicles (table 1) has changed to separately identify funds invested through fund of funds as a memorandum item. This change has been made to all years.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Glen Malam on Canberra (02) 6252 5040.