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dc.contributor.advisorAntoinette Schoar and Stanley N. Lapidus.en_US
dc.contributor.authorBehrens, Jeffrey Sen_US
dc.contributor.otherSloan School of Management.en_US
dc.date.accessioned2007-08-03T18:31:02Z
dc.date.available2007-08-03T18:31:02Z
dc.date.copyright2007en_US
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/1721.1/38334
dc.descriptionThesis (S.M.)--Harvard-MIT Division of Health Sciences and Technology; and, (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2007.en_US
dc.descriptionVita.en_US
dc.descriptionIncludes bibliographical references (leaf 28).en_US
dc.description.abstractVenture capital investment performance data and performance attribution are not typically published. Venture investors articulate (and sell to LPs) conflicting strategies; the popular business literature and culture is rife with rapidly changing beliefs about the relative attractiveness of healthcare venture subsectors, particularly therapeutics and devices. To examine these issues in a more rigorous format I developed a dataset of healthcare venture deals, scored each deal with a new metric ("jb-score"), and assigned each portfolio company to appropriate subsectors. This dataset was then used to examine subsector performance, persistence, and fund strategy attribution (pure vs. mixed healthcare strategies.) Specifically, I found that the performance characteristics of device and therapeutic (aka biotech or drug) investments are similar: both subsectors evidence similar jb-scores and firms who invest heavily in these subsectors show similar levels of persistent overperformance with devices showing somewhat higher persistence. Firms that focus on one subsector do not perform as well as firms that follow a more balanced strategy. Finally, I examine the validity of the jb-score and offer some suggestions for future improvements.en_US
dc.description.statementofresponsibilityby Jeffrey S. Behrens.en_US
dc.format.extent32 leavesen_US
dc.language.isoengen_US
dc.publisherMassachusetts Institute of Technologyen_US
dc.rightsM.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.en_US
dc.rights.urihttp://dspace.mit.edu/handle/1721.1/7582
dc.subjectHarvard University--MIT Division of Health Sciences and Technology.en_US
dc.subjectSloan School of Management.en_US
dc.titleInvestment performance of life-science venture capital investment funds, persistence, and subsector analysisen_US
dc.typeThesisen_US
dc.description.degreeM.B.A.en_US
dc.description.degreeS.M.en_US
dc.contributor.departmentHarvard University--MIT Division of Health Sciences and Technology.en_US
dc.contributor.departmentSloan School of Management.en_US
dc.identifier.oclc156912606en_US


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