Profitability of Venture Capital Investment in Europe and the United States
This paper examines the profitability of venture capital investment in Europe and the United states. It highlights the unfavourable profitability differential of European venture capital investment in comparison with the United States. The investment performance measures used are the internal rate of return and investment multiples.
Link
http://ec.europa.eu/economy_finance/publications/economic_papers/2006/ecp245en.pdf