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A conversation with; Timothy Bates, Wayne State University.(Focus)(Interview)
Crain's Detroit Business, August, 2006
Byline: Tom Henderson Timothy Bates, an economics professor at Wayne State University, and William Bradford of the University of Washington published a study in 2003 funded by the Missouri-based Kauffman Foundation on venture-capital firms that invested primarily in minority-owned companies through 2000.
They found that 117 investments by those firms yielded an annual rate of return of more than 20 percent, compared to 17 percent for the Standard & Poor's 500. A second study by Bates and Bradford, studying those VC firms' results through 2003, was released in June. Comparing their results with other studies of VC funds in general, the authors concluded "that the returns to the minority-focused funds are certainly no lower, and perhaps higher, than those of...
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