Suppose a venture fund wishes to base its required return (used in discounting future terminal values) on its historical experience
Suppose a venture fund wishes to base its required return (used in discounting future terminal values) on its historical experience and suggests merely averaging the rates on the last three concluded deals. These deals realized total returns of –67% at the end of 2 years, 50% at the end of 5 years and 70% at […]


