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BO

Growth

VC

Total

816

121

324

1985

2

1986

1

2

1987

4

2

1988

5

1

1989

1

1990

1

4

1991

3

1

1992

5

2

5

1993

7

1

5

1994

16

6

1995

13

7

1996

17

2

8

1997

20

12

1998

36

1

16

1999

31

3

19

2000

33

5

37

2001

21

3

23

2002

22

2

15

2003

28

11

2004

30

3

10

2005

58

6

14

2006

66

10

20

2007

67

13

26

2008

62

9

19

2009

27

6

7

2010

36

7

10

2011

43

14

13

2012

45

11

10

2013

60

9

11

2014

57

14

9

Why are projections beyond 6 years tend to have strong dips?

The Apliqo projection model assumes a lifecycle of up to 60 quarters, 15 years. For funds older then 60 quarters only the acutal cumulative distributions are taken into consideration. Younger funds include the projected cumulative distributions up to the 60th quarter. If a fund reaches the age of 60 quarters. the cumulative distributions will no longer be taken into consideration.

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