Private Markets

Vintage Year

Definition

What is Vintage Year?

The year a private fund begins investing or first draws capital, used to compare similar funds.

Example in practice

A 2024 vintage fund is compared with other funds launched around 2024.

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Investment in privately held companies, often with active ownership and a multi-year exit plan.

Equity financing for young, high-growth companies with substantial uncertainty.

An individual who invests personal money in early-stage companies.

A preliminary document outlining the main commercial terms of a proposed investment.

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