The net return on U.S.-based venture capital funds for the quarter ended June 30 was 4.5%, down sharply from last quarters net return of 30.9%, according to the Cambridge Associates U.S. Venture Capital Index. The return for the one-year period ended June 30 was 221.3%, well above the one-year S&P 500 index return of 7.2% and the Nasdaq Composite index return of 47.7% for the same period. Cambridges U.S. Private Equity index posted a 1.2% loss for the quarter ended June 30, down from last quarters gain of 12.6%. The index posted a net return of 27.7% for the one-year period ended June 30.