We study the formation and evolution of voids in the dark matter distribution using various simulations of the popular $\Lambda$ Cold Dark Matter Universe. We identify voids by requiring them to be spherical or elliptical regions of space with a mean overdensity of $-0.8$ or less. The distribution of void sizes in the different simulations shows good overlap. The size of a void is related to the depth of the smoothed density field at that position in the initial conditions. The rescaled mass profiles of voids in the different simulations agree remarkably well. We find a universal void mass profile of the form $\rho(\ltr)/\rho(r_{\rm eff}) \propto \exp[(r/r_{\rm eff})^\alpha]$ where $r_{\rm eff}$ is the effective void radius and $\alpha\sim 2$. The mass function of haloes in voids is steeper than that of haloes which populate denser regions.To search for other articles by the author(s) go to: http://adsabs.harvard.edu/abstract_service.html