It’s lower returns, write-off provisions and warnings about skinny returns ahead at Square Peg Capital as it mails out returns for the six months to June 30 to investors.
It’s lower returns, write-off provisions and warnings about skinnier IRRs ahead at Square Peg Capital, as the group mails out investor returns for the six months to June 30.The VC firm marked down its Fund 1, 2 and 3 by a combined $175 million or about 15 per cent, to take shave the value of their combined portfolio back to about $1 billion.
They were told the future write-off provisions were mostly broad-based, and only a handful of companies had been marked down individually. Fund 1 posted 20.3 per cent on a net internal rate of return basis, down from 25.8 per cent at December 31. It took a $46 million write down, ending the half with assets worth $457.5 million in the fund.
The firm takes great pride in its exits, saying it had invested about $1 billion and turned it into $2.5 billion, of which $600 million was in exits.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Square Peg adds write-down provisions; preps investors for lower returnsIt’s lower returns, write-off provisions and warnings about skinny returns ahead at Square Peg Capital as it mails out returns for the six months to June 30 to investors.
Read more »
Square Peg adds write-down provisions; preps investors for lower returnsIt’s lower returns, write-off provisions and warnings about skinny returns ahead at Square Peg Capital as it mails out returns for the six months to June 30 to investors.
Read more »
ASX to open lower as Wall St pares early gainsAustralian shares are set to open lower as Wall Street pared earlier gains and investors took a closer look at earnings.
Read more »
‘Sizeable portion’ of super industry could fail performance testMany super funds are in ‘limp mode’ and could fail the prudential regulator’s performance test, which CIOs say is leading to less risk-taking and lower returns.
Read more »
New York Times bestselling author pens a happy ending after buying regional community's last bookshopKelly Rimmer couldn't bear to see her city's bookstore close down or move to non-local ownership, so she moved from writing books to selling them.
Read more »
Three tips for running efficient meetingsIf somebody wants to raise a topic for discussion in a team get-together, they must write it down beforehand and share it with everyone.
Read more »