U.S. venture cap returns edge down for year ended March 31

U.S. venture capital returns were 12.8% for the 12 months ended March 31, down from 13.2% in the year ended Dec. 31 and 18.5% for the 12 months ended March 31, 2011, according to Cambridge Associates U.S. Venture Capital index.

The March 31 numbers were the lowest 12-month return since Dec. 31, 2010.

The return for the first quarter was 4.7%, up from 1.4% three months earlier but down from 5% a year ago.

The 10-year return for the period ended March 31 was an annualized 4.4%, up from 3.3% for the 10 years ended Dec. 31 and -0.1% for the same period ended March 31, 2011.