488 P. Gompers
Fig. 1. Commitments to the venture capital industry. Commitments are defined as the amount of money that
is pledged to venture capital funds in that year. Amounts are in millions of 1996 dollars. Source: Venture
Economics and Asset Alternatives.
Fig. 2. Return on venture capital. The average annual internal rate of return on venture capital funds, net of
fees and profit-sharing, is plotted by year. Source: Compiled from Venture Economics data.