80 Flags*100K Pre/Seed - No FO by @tina_nia

Probability of Fund Multiple

1x
100%
3x
20.6%
10x
0.9%

TVPI Distribution

3rd Quartile
1.79
Median
2.29
Top Quartile
2.87

Investments

Initial Check
$125K
Follow-on
$1.2M
Blended Cost Basis
$12.6M

Company Ownership

Avg Initial
2.59%
Avg At Exit
5.38%
Dilution/Round
20%

Median Performing Portfolio

50% of simulated portfolios performed worse than this portfolio, and 50% performed better. Click 'show/hide details' to see each investment.

show/hide details

Median Fund Portfolio

Company 6 - $1,155,983,732 exit after 6 rounds
Invested: $1,337,121
Blended Cost Basis: $29,809,505
Return: $19,660,385 (own at exit: 1.7%)
   Check 1: $125,000 @ $7,500,000 (1.67%)
   Check 1 Returns: $6,313,212 (0.55% ownership @ exit)
   Check 2: $1,212,121 @ $43,000,000 (2.82%)
   Check 2 Returns: $13,347,172 (1.15% ownership @ exit)

Company 13 - $1,077,512,111 exit after 6 rounds
Invested: $1,337,121
Blended Cost Basis: $27,927,215
Return: $20,248,555 (own at exit: 1.88%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $3,530,791 (0.33% ownership @ exit)
   Check 2: $1,212,121 @ $32,000,000 (3.79%)
   Check 2 Returns: $16,717,763 (1.55% ownership @ exit)

Company 7 - $115,326,369 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $19,450,946
Return: $4,931,922 (own at exit: 4.28%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $567,760 (0.49% ownership @ exit)
   Check 2: $1,212,121 @ $20,500,000 (5.91%)
   Check 2 Returns: $4,364,161 (3.78% ownership @ exit)

Company 51 - $110,628,626 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $32,090,909
Return: $2,789,182 (own at exit: 2.52%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $643,657 (0.58% ownership @ exit)
   Check 2: $1,212,121 @ $40,000,000 (3.03%)
   Check 2 Returns: $2,145,524 (1.94% ownership @ exit)

Company 27 - $103,234,286 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $30,806,747
Return: $2,745,316 (own at exit: 2.66%)
   Check 1: $125,000 @ $13,500,000 (0.93%)
   Check 1 Returns: $489,406 (0.47% ownership @ exit)
   Check 2: $1,212,121 @ $35,500,000 (3.41%)
   Check 2 Returns: $2,255,909 (2.19% ownership @ exit)

Company 38 - $102,049,998 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $25,293,197
Return: $3,126,149 (own at exit: 3.06%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $1,306,239 (1.28% ownership @ exit)
   Check 2: $1,212,121 @ $43,500,000 (2.79%)
   Check 2 Returns: $1,819,909 (1.78% ownership @ exit)

Company 75 - $93,622,403 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $24,331,919
Return: $3,192,851 (own at exit: 3.41%)
   Check 1: $125,000 @ $15,000,000 (0.83%)
   Check 1 Returns: $399,455 (0.43% ownership @ exit)
   Check 2: $1,212,121 @ $26,000,000 (4.66%)
   Check 2 Returns: $2,793,395 (2.98% ownership @ exit)

Company 79 - $59,824,750 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $19,744,833
Return: $3,145,349 (own at exit: 5.26%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $382,878 (0.64% ownership @ exit)
   Check 2: $1,212,121 @ $21,000,000 (5.77%)
   Check 2 Returns: $2,762,470 (4.62% ownership @ exit)

Company 77 - $58,159,078 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $17,456,044
Return: $3,352,469 (own at exit: 5.76%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $845,950 (1.45% ownership @ exit)
   Check 2: $1,212,121 @ $22,500,000 (5.39%)
   Check 2 Returns: $2,506,519 (4.31% ownership @ exit)

Company 76 - $56,441,768 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $23,893,500
Return: $2,353,196 (own at exit: 4.17%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $694,667 (1.23% ownership @ exit)
   Check 2: $1,212,121 @ $33,000,000 (3.67%)
   Check 2 Returns: $1,658,527 (2.94% ownership @ exit)

Company 16 - $54,136,892 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $35,674,909
Return: $1,548,600 (own at exit: 2.86%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $298,686 (0.55% ownership @ exit)
   Check 2: $1,212,121 @ $42,000,000 (2.89%)
   Check 2 Returns: $1,249,913 (2.31% ownership @ exit)

Company 21 - $51,448,295 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $17,994,577
Return: $2,871,286 (own at exit: 5.58%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $748,338 (1.45% ownership @ exit)
   Check 2: $1,212,121 @ $23,500,000 (5.16%)
   Check 2 Returns: $2,122,947 (4.13% ownership @ exit)

Company 57 - $51,393,651 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $24,571,392
Return: $2,008,968 (own at exit: 3.91%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $913,664 (1.78% ownership @ exit)
   Check 2: $1,212,121 @ $45,500,000 (2.66%)
   Check 2 Returns: $1,095,302 (2.13% ownership @ exit)

Company 12 - $51,305,552 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $17,872,375
Return: $2,777,564 (own at exit: 5.41%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $1,172,698 (2.29% ownership @ exit)
   Check 2: $1,212,121 @ $31,000,000 (3.91%)
   Check 2 Returns: $1,604,865 (3.13% ownership @ exit)

Company 70 - $48,394,487 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $22,094,465
Return: $2,222,018 (own at exit: 4.59%)
   Check 1: $125,000 @ $8,000,000 (1.56%)
   Check 1 Returns: $483,944 (1% ownership @ exit)
   Check 2: $1,212,121 @ $27,000,000 (4.49%)
   Check 2 Returns: $1,738,073 (3.59% ownership @ exit)

Company 45 - $47,687,599 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $28,693,964
Return: $1,698,291 (own at exit: 3.56%)
   Check 1: $125,000 @ $12,000,000 (1.04%)
   Check 1 Returns: $317,917 (0.67% ownership @ exit)
   Check 2: $1,212,121 @ $33,500,000 (3.62%)
   Check 2 Returns: $1,380,373 (2.89% ownership @ exit)

Company 34 - $47,282,502 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $26,858,696
Return: $1,793,051 (own at exit: 3.79%)
   Check 1: $125,000 @ $10,500,000 (1.19%)
   Check 1 Returns: $360,247 (0.76% ownership @ exit)
   Check 2: $1,212,121 @ $32,000,000 (3.79%)
   Check 2 Returns: $1,432,803 (3.03% ownership @ exit)

Company 30 - $47,265,658 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $18,937,768
Return: $2,594,168 (own at exit: 5.49%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $302,500 (0.64% ownership @ exit)
   Check 2: $1,212,121 @ $20,000,000 (6.06%)
   Check 2 Returns: $2,291,668 (4.85% ownership @ exit)

Company 39 - $47,189,204 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $24,071,188
Return: $2,029,623 (own at exit: 4.3%)
   Check 1: $125,000 @ $14,000,000 (0.89%)
   Check 1 Returns: $269,652 (0.57% ownership @ exit)
   Check 2: $1,212,121 @ $26,000,000 (4.66%)
   Check 2 Returns: $1,759,970 (3.73% ownership @ exit)

Company 1 - $46,244,278 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $21,342,610
Return: $2,053,522 (own at exit: 4.44%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $1,057,012 (2.29% ownership @ exit)
   Check 2: $1,212,121 @ $45,000,000 (2.69%)
   Check 2 Returns: $996,509 (2.15% ownership @ exit)

Company 41 - $46,126,310 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $32,339,867
Return: $1,417,175 (own at exit: 3.07%)
   Check 1: $125,000 @ $8,500,000 (1.47%)
   Check 1 Returns: $434,129 (0.94% ownership @ exit)
   Check 2: $1,212,121 @ $45,500,000 (2.66%)
   Check 2 Returns: $983,044 (2.13% ownership @ exit)

Company 20 - $46,111,558 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $33,177,542
Return: $1,415,769 (own at exit: 3.07%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $283,763 (0.62% ownership @ exit)
   Check 2: $1,212,121 @ $39,500,000 (3.07%)
   Check 2 Returns: $1,132,006 (2.45% ownership @ exit)

Company 31 - $45,719,072 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $26,326,563
Return: $1,674,774 (own at exit: 3.66%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $731,505 (1.6% ownership @ exit)
   Check 2: $1,212,121 @ $47,000,000 (2.58%)
   Check 2 Returns: $943,269 (2.06% ownership @ exit)

Company 74 - $45,503,633 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $31,043,263
Return: $1,502,971 (own at exit: 3.3%)
   Check 1: $125,000 @ $14,000,000 (0.89%)
   Check 1 Returns: $260,020 (0.57% ownership @ exit)
   Check 2: $1,212,121 @ $35,500,000 (3.41%)
   Check 2 Returns: $1,242,950 (2.73% ownership @ exit)

Company 10 - $43,241,870 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $20,905,421
Return: $2,020,431 (own at exit: 4.67%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $768,744 (1.78% ownership @ exit)
   Check 2: $1,212,121 @ $33,500,000 (3.62%)
   Check 2 Returns: $1,251,686 (2.89% ownership @ exit)

Company 29 - $42,842,994 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $37,016,717
Return: $1,163,553 (own at exit: 2.72%)
   Check 1: $125,000 @ $11,500,000 (1.09%)
   Check 1 Returns: $298,038 (0.7% ownership @ exit)
   Check 2: $1,212,121 @ $48,000,000 (2.53%)
   Check 2 Returns: $865,515 (2.02% ownership @ exit)

Company 14 - $41,875,270 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $31,147,059
Return: $1,376,103 (own at exit: 3.29%)
   Check 1: $125,000 @ $13,500,000 (0.93%)
   Check 1 Returns: $248,149 (0.59% ownership @ exit)
   Check 2: $1,212,121 @ $36,000,000 (3.37%)
   Check 2 Returns: $1,127,953 (2.69% ownership @ exit)

Company 17 - $40,549,658 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $19,736,528
Return: $2,141,814 (own at exit: 5.28%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $223,722 (0.55% ownership @ exit)
   Check 2: $1,212,121 @ $20,500,000 (5.91%)
   Check 2 Returns: $1,918,091 (4.73% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 1.25%)
   Check 1: $125,000 @ $10,000,000 (1.25%)
   Check 1 Returns: $0 (1.25% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 6.25%)
   Check 1: $125,000 @ $2,000,000 (6.25%)
   Check 1 Returns: $0 (6.25% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.92%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $0 (1.92% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 1.19%)
   Check 1: $125,000 @ $10,500,000 (1.19%)
   Check 1 Returns: $0 (1.19% ownership @ exit)

Company 9 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 1.09%)
   Check 1: $125,000 @ $11,500,000 (1.09%)
   Check 1 Returns: $0 (1.09% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 2.08%)
   Check 1: $125,000 @ $6,000,000 (2.08%)
   Check 1 Returns: $0 (2.08% ownership @ exit)

Company 15 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 0.96%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $0 (0.96% ownership @ exit)

Company 18 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 1.47%)
   Check 1: $125,000 @ $8,500,000 (1.47%)
   Check 1 Returns: $0 (1.47% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 0.89%)
   Check 1: $125,000 @ $14,000,000 (0.89%)
   Check 1 Returns: $0 (0.89% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 12.5%)
   Check 1: $125,000 @ $1,000,000 (12.5%)
   Check 1 Returns: $0 (12.5% ownership @ exit)

Company 32 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.92%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $0 (1.92% ownership @ exit)

Company 33 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 35 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 1.67%)
   Check 1: $125,000 @ $7,500,000 (1.67%)
   Check 1 Returns: $0 (1.67% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 6.25%)
   Check 1: $125,000 @ $2,000,000 (6.25%)
   Check 1 Returns: $0 (6.25% ownership @ exit)

Company 37 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $125,000 @ $4,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 40 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 42 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 43 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 4.17%)
   Check 1: $125,000 @ $3,000,000 (4.17%)
   Check 1 Returns: $0 (4.17% ownership @ exit)

Company 44 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.92%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $0 (1.92% ownership @ exit)

Company 46 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 1.25%)
   Check 1: $125,000 @ $10,000,000 (1.25%)
   Check 1 Returns: $0 (1.25% ownership @ exit)

Company 47 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 1.04%)
   Check 1: $125,000 @ $12,000,000 (1.04%)
   Check 1 Returns: $0 (1.04% ownership @ exit)

Company 48 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 1.79%)
   Check 1: $125,000 @ $7,000,000 (1.79%)
   Check 1 Returns: $0 (1.79% ownership @ exit)

Company 49 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 2.27%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $0 (2.27% ownership @ exit)

Company 50 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 6.25%)
   Check 1: $125,000 @ $2,000,000 (6.25%)
   Check 1 Returns: $0 (6.25% ownership @ exit)

Company 52 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 0.96%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $0 (0.96% ownership @ exit)

Company 53 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 1.04%)
   Check 1: $125,000 @ $12,000,000 (1.04%)
   Check 1 Returns: $0 (1.04% ownership @ exit)

Company 54 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 1.19%)
   Check 1: $125,000 @ $10,500,000 (1.19%)
   Check 1 Returns: $0 (1.19% ownership @ exit)

Company 55 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 12.5%)
   Check 1: $125,000 @ $1,000,000 (12.5%)
   Check 1 Returns: $0 (12.5% ownership @ exit)

Company 56 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 1.79%)
   Check 1: $125,000 @ $7,000,000 (1.79%)
   Check 1 Returns: $0 (1.79% ownership @ exit)

Company 58 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $125,000 @ $4,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 59 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 6.25%)
   Check 1: $125,000 @ $2,000,000 (6.25%)
   Check 1 Returns: $0 (6.25% ownership @ exit)

Company 60 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 1.32%)
   Check 1: $125,000 @ $9,500,000 (1.32%)
   Check 1 Returns: $0 (1.32% ownership @ exit)

Company 61 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 1.67%)
   Check 1: $125,000 @ $7,500,000 (1.67%)
   Check 1 Returns: $0 (1.67% ownership @ exit)

Company 62 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 1%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $0 (1% ownership @ exit)

Company 63 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 2.08%)
   Check 1: $125,000 @ $6,000,000 (2.08%)
   Check 1 Returns: $0 (2.08% ownership @ exit)

Company 64 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 1.79%)
   Check 1: $125,000 @ $7,000,000 (1.79%)
   Check 1 Returns: $0 (1.79% ownership @ exit)

Company 65 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 1.04%)
   Check 1: $125,000 @ $12,000,000 (1.04%)
   Check 1 Returns: $0 (1.04% ownership @ exit)

Company 66 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 67 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 1.67%)
   Check 1: $125,000 @ $7,500,000 (1.67%)
   Check 1 Returns: $0 (1.67% ownership @ exit)

Company 68 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 12.5%)
   Check 1: $125,000 @ $1,000,000 (12.5%)
   Check 1 Returns: $0 (12.5% ownership @ exit)

Company 69 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 4.17%)
   Check 1: $125,000 @ $3,000,000 (4.17%)
   Check 1 Returns: $0 (4.17% ownership @ exit)

Company 71 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $125,000 @ $15,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 72 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 1.56%)
   Check 1: $125,000 @ $8,000,000 (1.56%)
   Check 1 Returns: $0 (1.56% ownership @ exit)

Company 73 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 2.27%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $0 (2.27% ownership @ exit)

Company 78 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $125,000 @ $15,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Top Quartile Portfolio

75% of simulated portfolios performed worse than this portfolio, 25% performed better%. Click 'show/hide details' to see each investment.

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Top Quartile Fund Portfolio

Company 23 - $1,190,525,227 exit after 6 rounds
Invested: $1,337,121
Blended Cost Basis: $19,821,983
Return: $28,830,760 (own at exit: 2.42%)
   Check 1: $125,000 @ $3,000,000 (4.17%)
   Check 1 Returns: $16,254,637 (1.37% ownership @ exit)
   Check 2: $1,212,121 @ $47,000,000 (2.58%)
   Check 2 Returns: $12,576,122 (1.06% ownership @ exit)

Company 0 - $1,132,912,583 exit after 6 rounds
Invested: $1,337,121
Blended Cost Basis: $25,596,383
Return: $21,920,684 (own at exit: 1.93%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $9,280,819 (0.82% ownership @ exit)
   Check 2: $1,212,121 @ $44,500,000 (2.72%)
   Check 2 Returns: $12,639,863 (1.12% ownership @ exit)

Company 17 - $119,634,961 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $23,318,475
Return: $3,965,078 (own at exit: 3.31%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $1,701,475 (1.42% ownership @ exit)
   Check 2: $1,212,121 @ $41,000,000 (2.96%)
   Check 2 Returns: $2,263,603 (1.89% ownership @ exit)

Company 28 - $87,300,266 exit after 4 rounds
Invested: $1,337,121
Blended Cost Basis: $31,026,121
Return: $2,252,702 (own at exit: 2.58%)
   Check 1: $125,000 @ $9,000,000 (1.39%)
   Check 1 Returns: $620,801 (0.71% ownership @ exit)
   Check 2: $1,212,121 @ $41,500,000 (2.92%)
   Check 2 Returns: $1,631,899 (1.87% ownership @ exit)

Company 32 - $57,849,799 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $10,359,358
Return: $5,202,182 (own at exit: 8.99%)
   Check 1: $125,000 @ $1,500,000 (8.33%)
   Check 1 Returns: $3,085,322 (5.33% ownership @ exit)
   Check 2: $1,212,121 @ $26,500,000 (4.57%)
   Check 2 Returns: $2,116,859 (3.66% ownership @ exit)

Company 44 - $56,549,747 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $29,640,498
Return: $1,960,040 (own at exit: 3.47%)
   Check 1: $125,000 @ $14,000,000 (0.89%)
   Check 1 Returns: $323,141 (0.57% ownership @ exit)
   Check 2: $1,212,121 @ $33,500,000 (3.62%)
   Check 2 Returns: $1,636,899 (2.89% ownership @ exit)

Company 1 - $54,387,902 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $19,557,849
Return: $2,793,399 (own at exit: 5.14%)
   Check 1: $125,000 @ $6,000,000 (2.08%)
   Check 1 Returns: $725,172 (1.33% ownership @ exit)
   Check 2: $1,212,121 @ $25,500,000 (4.75%)
   Check 2 Returns: $2,068,226 (3.8% ownership @ exit)

Company 12 - $53,039,938 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $33,069,640
Return: $1,623,429 (own at exit: 3.06%)
   Check 1: $125,000 @ $11,500,000 (1.09%)
   Check 1 Returns: $368,973 (0.7% ownership @ exit)
   Check 2: $1,212,121 @ $41,000,000 (2.96%)
   Check 2 Returns: $1,254,455 (2.37% ownership @ exit)

Company 4 - $53,039,726 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $36,281,741
Return: $1,493,054 (own at exit: 2.81%)
   Check 1: $125,000 @ $15,000,000 (0.83%)
   Check 1 Returns: $282,878 (0.53% ownership @ exit)
   Check 2: $1,212,121 @ $42,500,000 (2.85%)
   Check 2 Returns: $1,210,175 (2.28% ownership @ exit)

Company 29 - $52,384,870 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $29,339,050
Return: $1,810,163 (own at exit: 3.46%)
   Check 1: $125,000 @ $10,500,000 (1.19%)
   Check 1 Returns: $399,122 (0.76% ownership @ exit)
   Check 2: $1,212,121 @ $36,000,000 (3.37%)
   Check 2 Returns: $1,411,040 (2.69% ownership @ exit)

Company 35 - $51,366,347 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $22,673,659
Return: $2,265,309 (own at exit: 4.41%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $632,201 (1.23% ownership @ exit)
   Check 2: $1,212,121 @ $30,500,000 (3.97%)
   Check 2 Returns: $1,633,107 (3.18% ownership @ exit)

Company 72 - $51,239,941 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $25,357,278
Return: $1,990,758 (own at exit: 3.89%)
   Check 1: $125,000 @ $6,000,000 (2.08%)
   Check 1 Returns: $683,199 (1.33% ownership @ exit)
   Check 2: $1,212,121 @ $38,000,000 (3.19%)
   Check 2 Returns: $1,307,558 (2.55% ownership @ exit)

Company 53 - $49,089,702 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $25,606,218
Return: $1,980,589 (own at exit: 4.03%)
   Check 1: $125,000 @ $14,000,000 (0.89%)
   Check 1 Returns: $280,512 (0.57% ownership @ exit)
   Check 2: $1,212,121 @ $28,000,000 (4.33%)
   Check 2 Returns: $1,700,076 (3.46% ownership @ exit)

Company 49 - $48,744,055 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $17,524,823
Return: $2,650,326 (own at exit: 5.44%)
   Check 1: $125,000 @ $3,000,000 (4.17%)
   Check 1 Returns: $1,299,841 (2.67% ownership @ exit)
   Check 2: $1,212,121 @ $35,000,000 (3.46%)
   Check 2 Returns: $1,350,484 (2.77% ownership @ exit)

Company 20 - $48,336,408 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $19,738,622
Return: $2,531,615 (own at exit: 5.24%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $351,537 (0.73% ownership @ exit)
   Check 2: $1,212,121 @ $21,500,000 (5.64%)
   Check 2 Returns: $2,180,077 (4.51% ownership @ exit)

Company 63 - $47,286,584 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $16,955,627
Return: $2,604,924 (own at exit: 5.51%)
   Check 1: $125,000 @ $2,500,000 (5%)
   Check 1 Returns: $1,513,170 (3.2% ownership @ exit)
   Check 2: $1,212,121 @ $42,000,000 (2.89%)
   Check 2 Returns: $1,091,753 (2.31% ownership @ exit)

Company 62 - $46,888,571 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $30,957,041
Return: $1,538,653 (own at exit: 3.28%)
   Check 1: $125,000 @ $11,500,000 (1.09%)
   Check 1 Returns: $326,181 (0.7% ownership @ exit)
   Check 2: $1,212,121 @ $37,500,000 (3.23%)
   Check 2 Returns: $1,212,472 (2.59% ownership @ exit)

Company 15 - $46,418,619 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $22,628,661
Return: $2,122,877 (own at exit: 4.57%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $285,653 (0.62% ownership @ exit)
   Check 2: $1,212,121 @ $24,500,000 (4.95%)
   Check 2 Returns: $1,837,224 (3.96% ownership @ exit)

Company 55 - $46,012,874 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $25,984,134
Return: $1,828,494 (own at exit: 3.97%)
   Check 1: $125,000 @ $14,000,000 (0.89%)
   Check 1 Returns: $262,930 (0.57% ownership @ exit)
   Check 2: $1,212,121 @ $28,500,000 (4.25%)
   Check 2 Returns: $1,565,562 (3.4% ownership @ exit)

Company 9 - $41,480,787 exit after 3 rounds
Invested: $1,337,121
Blended Cost Basis: $30,329,356
Return: $1,393,866 (own at exit: 3.36%)
   Check 1: $125,000 @ $12,000,000 (1.04%)
   Check 1 Returns: $276,538 (0.67% ownership @ exit)
   Check 2: $1,212,121 @ $36,000,000 (3.37%)
   Check 2 Returns: $1,117,327 (2.69% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 0.86%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $0 (0.86% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $125,000 @ $4,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 0.96%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $0 (0.96% ownership @ exit)

Company 7 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 1.19%)
   Check 1: $125,000 @ $10,500,000 (1.19%)
   Check 1 Returns: $0 (1.19% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 1.56%)
   Check 1: $125,000 @ $8,000,000 (1.56%)
   Check 1 Returns: $0 (1.56% ownership @ exit)

Company 13 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 12.5%)
   Check 1: $125,000 @ $1,000,000 (12.5%)
   Check 1 Returns: $0 (12.5% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 5%)
   Check 1: $125,000 @ $2,500,000 (5%)
   Check 1 Returns: $0 (5% ownership @ exit)

Company 18 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 2.08%)
   Check 1: $125,000 @ $6,000,000 (2.08%)
   Check 1 Returns: $0 (2.08% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 1.47%)
   Check 1: $125,000 @ $8,500,000 (1.47%)
   Check 1 Returns: $0 (1.47% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.92%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $0 (1.92% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 2.27%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $0 (2.27% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 1.56%)
   Check 1: $125,000 @ $8,000,000 (1.56%)
   Check 1 Returns: $0 (1.56% ownership @ exit)

Company 27 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 1.67%)
   Check 1: $125,000 @ $7,500,000 (1.67%)
   Check 1 Returns: $0 (1.67% ownership @ exit)

Company 30 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 1.25%)
   Check 1: $125,000 @ $10,000,000 (1.25%)
   Check 1 Returns: $0 (1.25% ownership @ exit)

Company 31 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 0.86%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $0 (0.86% ownership @ exit)

Company 33 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 1%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $0 (1% ownership @ exit)

Company 34 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 1.09%)
   Check 1: $125,000 @ $11,500,000 (1.09%)
   Check 1 Returns: $0 (1.09% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 1%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $0 (1% ownership @ exit)

Company 37 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 4.17%)
   Check 1: $125,000 @ $3,000,000 (4.17%)
   Check 1 Returns: $0 (4.17% ownership @ exit)

Company 38 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 0.86%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $0 (0.86% ownership @ exit)

Company 39 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 0.96%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $0 (0.96% ownership @ exit)

Company 40 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 4.17%)
   Check 1: $125,000 @ $3,000,000 (4.17%)
   Check 1 Returns: $0 (4.17% ownership @ exit)

Company 41 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 1.67%)
   Check 1: $125,000 @ $7,500,000 (1.67%)
   Check 1 Returns: $0 (1.67% ownership @ exit)

Company 42 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 43 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 0.86%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $0 (0.86% ownership @ exit)

Company 45 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 1.79%)
   Check 1: $125,000 @ $7,000,000 (1.79%)
   Check 1 Returns: $0 (1.79% ownership @ exit)

Company 46 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.92%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $0 (1.92% ownership @ exit)

Company 47 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 1.56%)
   Check 1: $125,000 @ $8,000,000 (1.56%)
   Check 1 Returns: $0 (1.56% ownership @ exit)

Company 48 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 50 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 0.86%)
   Check 1: $125,000 @ $14,500,000 (0.86%)
   Check 1 Returns: $0 (0.86% ownership @ exit)

Company 51 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 1.56%)
   Check 1: $125,000 @ $8,000,000 (1.56%)
   Check 1 Returns: $0 (1.56% ownership @ exit)

Company 52 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $125,000 @ $3,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 54 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 8.33%)
   Check 1: $125,000 @ $1,500,000 (8.33%)
   Check 1 Returns: $0 (8.33% ownership @ exit)

Company 56 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 1.32%)
   Check 1: $125,000 @ $9,500,000 (1.32%)
   Check 1 Returns: $0 (1.32% ownership @ exit)

Company 57 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 0.93%)
   Check 1: $125,000 @ $13,500,000 (0.93%)
   Check 1 Returns: $0 (0.93% ownership @ exit)

Company 58 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $125,000 @ $4,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 59 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 2.27%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $0 (2.27% ownership @ exit)

Company 60 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 1.79%)
   Check 1: $125,000 @ $7,000,000 (1.79%)
   Check 1 Returns: $0 (1.79% ownership @ exit)

Company 61 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 64 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.92%)
   Check 1: $125,000 @ $6,500,000 (1.92%)
   Check 1 Returns: $0 (1.92% ownership @ exit)

Company 65 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 1.79%)
   Check 1: $125,000 @ $7,000,000 (1.79%)
   Check 1 Returns: $0 (1.79% ownership @ exit)

Company 66 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 67 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 8.33%)
   Check 1: $125,000 @ $1,500,000 (8.33%)
   Check 1 Returns: $0 (8.33% ownership @ exit)

Company 68 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 2.27%)
   Check 1: $125,000 @ $5,500,000 (2.27%)
   Check 1 Returns: $0 (2.27% ownership @ exit)

Company 69 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 1%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $0 (1% ownership @ exit)

Company 70 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 0.96%)
   Check 1: $125,000 @ $13,000,000 (0.96%)
   Check 1 Returns: $0 (0.96% ownership @ exit)

Company 71 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 73 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 1%)
   Check 1: $125,000 @ $12,500,000 (1%)
   Check 1 Returns: $0 (1% ownership @ exit)

Company 74 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 1.14%)
   Check 1: $125,000 @ $11,000,000 (1.14%)
   Check 1 Returns: $0 (1.14% ownership @ exit)

Company 75 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $125,000 @ $4,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 76 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $125,000 @ $5,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 77 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 12.5%)
   Check 1: $125,000 @ $1,000,000 (12.5%)
   Check 1 Returns: $0 (12.5% ownership @ exit)

Company 78 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 1.19%)
   Check 1: $125,000 @ $10,500,000 (1.19%)
   Check 1 Returns: $0 (1.19% ownership @ exit)

Company 79 - $0 exit after 1 rounds
Invested: $125,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $125,000 @ $4,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Portfolio Size vs TVPI

How changing portfolio size would affect returns.

Reserves (%) vs TVPI

How changing the percent of capital reserved for follow-on would affect returns.

Fund Model

Fund
$50,000,000
Investments
80
Reserve
80%
Follow-on rate
40%
Follow-on Picking
Random Picking

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Silicon Valley Seed Market

Made up data for Seed investing. This assumes the first investment is at seed and the follow-on is at Series A.

Company Valuations

Entry Valuation
$1-15M
Follow-on Valuation
$20-50M

Dilution

Dilution Per Round
20%

Outcome Distribution

Probability Exit Rounds
0.1% $10B 7
1% $1B 6
1% $500M 5
5% $100M 4
20% $50M 3
72.9% $0 1