Morgan Stanley-Thematics Venture Vision The Rule of 40 - Europe-109378772

MGlobalFoundationThematicsVentureVision:TheRuleof40-EuropeMorganStanley&Co.Internationalplc+EdwardStanleyEquityStrategistEdward.Stanley@morganstanley.com+44207425-0840MatiasOvrumEquityStrategistMatias.Ovrum@morganstanley.com+44207425-99022023willbeaturbulentyearforprivatemarkets.Wehavearrangedcallstodiscussvaluations,cashburn,innovationandcompetitionforassets.OnthebackofourEarthshotspiece,manyofthesecallswillhaveaCleanTechslant.OurVentureVisionweeklieslookat(1)early-stagecross-themefundingpatterns;(2)relativevaluationsbetweenthemes;(3)publicversusprivatevaluations;and(4)theresultinganomalieswithincertainthemes.Pleaseletusknowifyouwouldlikeourexceldatabaseof>45,000VCdealscategorisedbytheme,country,valueanddate.Wealsosendthisfileasaweeklydistributionifyouwouldliketoreceiveitregularly.Seehereforourglobalmarketsynopsis.SeehereforourlongeranalysisonthestateoftheVCmarket,particularlyasitrelatestonon-USVentureandinnovationacceleration.Don'tunderestimatethepowerofsimplicity.Ventureinvestorsswearbythe"Ruleof40".Meanwhile,publicmarketinvestorsaregenerallyunawareofit.Thisglobalmini-seriesaimstocastalightonitsimportanceforactivemanagers.•SeeEpisodeOne:Ruleof40-USJustasweobservednotableoutperformanceofUSLargeCapRuleof40Stocks(seehere),theEuropeanLargeCapRuleof40nameshavealsodemonstratedimpressivereturns.Since2010,theSTOX...