E by @boo_burna

Probability of Fund Multiple

1x
89.6%
3x
36.9%
10x
3.4%

TVPI Distribution

3rd Quartile
1.53
Median
2.41
Top Quartile
3.63

Investments

Initial Check
$66.7K
Follow-on
$0
Blended Cost Basis
$8M

Company Ownership

Avg Initial
1.38%
Avg At Exit
1.61%
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 17 - $1,111,809,443 exit after 6 rounds
Invested: $66,667
Blended Cost Basis: $8,500,000
Return: $2,857,394 (own at exit: 0.26%)
   Check 1: $66,667 @ $8,500,000 (0.78%)
   Check 1 Returns: $2,857,393 (0.26% ownership @ exit)
   Check 2: $0 @ $41,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 15 - $58,316,339 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $9,500,000
Return: $261,912 (own at exit: 0.45%)
   Check 1: $66,667 @ $9,500,000 (0.7%)
   Check 1 Returns: $261,911 (0.45% ownership @ exit)

Company 1 - $54,265,553 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $11,500,000
Return: $201,333 (own at exit: 0.37%)
   Check 1: $66,667 @ $11,500,000 (0.58%)
   Check 1 Returns: $201,333 (0.37% ownership @ exit)
   Check 2: $0 @ $44,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 6 - $54,150,399 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $10,000,000
Return: $231,042 (own at exit: 0.43%)
   Check 1: $66,667 @ $10,000,000 (0.67%)
   Check 1 Returns: $231,041 (0.43% ownership @ exit)

Company 10 - $50,316,555 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $3,000,000
Return: $715,613 (own at exit: 1.42%)
   Check 1: $66,667 @ $3,000,000 (2.22%)
   Check 1 Returns: $715,613 (1.42% ownership @ exit)

Company 18 - $46,339,417 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $15,000,000
Return: $131,810 (own at exit: 0.28%)
   Check 1: $66,667 @ $15,000,000 (0.44%)
   Check 1 Returns: $131,809 (0.28% ownership @ exit)

Company 7 - $44,940,672 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $13,000,000
Return: $147,498 (own at exit: 0.33%)
   Check 1: $66,667 @ $13,000,000 (0.51%)
   Check 1 Returns: $147,497 (0.33% ownership @ exit)

Company 4 - $42,923,585 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $11,000,000
Return: $166,491 (own at exit: 0.39%)
   Check 1: $66,667 @ $11,000,000 (0.61%)
   Check 1 Returns: $166,491 (0.39% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 2.67%)
   Check 1: $66,667 @ $2,500,000 (2.67%)
   Check 1 Returns: $0 (2.67% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 0.48%)
   Check 1: $66,667 @ $14,000,000 (0.48%)
   Check 1 Returns: $0 (0.48% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 0.44%)
   Check 1: $66,667 @ $15,000,000 (0.44%)
   Check 1 Returns: $0 (0.44% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 0.48%)
   Check 1: $66,667 @ $14,000,000 (0.48%)
   Check 1 Returns: $0 (0.48% ownership @ exit)

Company 9 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 2.67%)
   Check 1: $66,667 @ $2,500,000 (2.67%)
   Check 1 Returns: $0 (2.67% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 0.49%)
   Check 1: $66,667 @ $13,500,000 (0.49%)
   Check 1 Returns: $0 (0.49% ownership @ exit)

Company 13 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 1.03%)
   Check 1: $66,667 @ $6,500,000 (1.03%)
   Check 1 Returns: $0 (1.03% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 1.33%)
   Check 1: $66,667 @ $5,000,000 (1.33%)
   Check 1 Returns: $0 (1.33% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 0.53%)
   Check 1: $66,667 @ $12,500,000 (0.53%)
   Check 1 Returns: $0 (0.53% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 0.63%)
   Check 1: $66,667 @ $10,500,000 (0.63%)
   Check 1 Returns: $0 (0.63% ownership @ exit)

Company 20 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 0.48%)
   Check 1: $66,667 @ $14,000,000 (0.48%)
   Check 1 Returns: $0 (0.48% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 0.44%)
   Check 1: $66,667 @ $15,000,000 (0.44%)
   Check 1 Returns: $0 (0.44% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 4.44%)
   Check 1: $66,667 @ $1,500,000 (4.44%)
   Check 1 Returns: $0 (4.44% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 1.11%)
   Check 1: $66,667 @ $6,000,000 (1.11%)
   Check 1 Returns: $0 (1.11% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 0.67%)
   Check 1: $66,667 @ $10,000,000 (0.67%)
   Check 1 Returns: $0 (0.67% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 2.67%)
   Check 1: $66,667 @ $2,500,000 (2.67%)
   Check 1 Returns: $0 (2.67% ownership @ exit)

Company 27 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 1.48%)
   Check 1: $66,667 @ $4,500,000 (1.48%)
   Check 1 Returns: $0 (1.48% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 0.49%)
   Check 1: $66,667 @ $13,500,000 (0.49%)
   Check 1 Returns: $0 (0.49% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 0.67%)
   Check 1: $66,667 @ $10,000,000 (0.67%)
   Check 1 Returns: $0 (0.67% 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 7 - $1,070,314,769 exit after 6 rounds
Invested: $66,667
Blended Cost Basis: $11,000,000
Return: $2,125,580 (own at exit: 0.2%)
   Check 1: $66,667 @ $11,000,000 (0.61%)
   Check 1 Returns: $2,125,580 (0.2% ownership @ exit)
   Check 2: $0 @ $28,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 23 - $829,938,298 exit after 6 rounds
Invested: $66,667
Blended Cost Basis: $5,500,000
Return: $3,296,414 (own at exit: 0.4%)
   Check 1: $66,667 @ $5,500,000 (1.21%)
   Check 1 Returns: $3,296,414 (0.4% ownership @ exit)

Company 18 - $56,301,113 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $2,000,000
Return: $1,201,090 (own at exit: 2.13%)
   Check 1: $66,667 @ $2,000,000 (3.33%)
   Check 1 Returns: $1,201,090 (2.13% ownership @ exit)

Company 9 - $54,387,584 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $9,000,000
Return: $257,837 (own at exit: 0.47%)
   Check 1: $66,667 @ $9,000,000 (0.74%)
   Check 1 Returns: $257,837 (0.47% ownership @ exit)

Company 4 - $50,805,849 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $13,500,000
Return: $160,572 (own at exit: 0.32%)
   Check 1: $66,667 @ $13,500,000 (0.49%)
   Check 1 Returns: $160,571 (0.32% ownership @ exit)
   Check 2: $0 @ $30,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 17 - $50,006,577 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $10,500,000
Return: $203,201 (own at exit: 0.41%)
   Check 1: $66,667 @ $10,500,000 (0.63%)
   Check 1 Returns: $203,201 (0.41% ownership @ exit)

Company 11 - $42,828,670 exit after 3 rounds
Invested: $66,667
Blended Cost Basis: $12,500,000
Return: $146,189 (own at exit: 0.34%)
   Check 1: $66,667 @ $12,500,000 (0.53%)
   Check 1 Returns: $146,188 (0.34% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 1 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 6.67%)
   Check 1: $66,667 @ $1,000,000 (6.67%)
   Check 1 Returns: $0 (6.67% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 3.33%)
   Check 1: $66,667 @ $2,000,000 (3.33%)
   Check 1 Returns: $0 (3.33% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 0.67%)
   Check 1: $66,667 @ $10,000,000 (0.67%)
   Check 1 Returns: $0 (0.67% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 1.11%)
   Check 1: $66,667 @ $6,000,000 (1.11%)
   Check 1 Returns: $0 (1.11% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 1.21%)
   Check 1: $66,667 @ $5,500,000 (1.21%)
   Check 1 Returns: $0 (1.21% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 0.46%)
   Check 1: $66,667 @ $14,500,000 (0.46%)
   Check 1 Returns: $0 (0.46% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 6.67%)
   Check 1: $66,667 @ $1,000,000 (6.67%)
   Check 1 Returns: $0 (6.67% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 1.67%)
   Check 1: $66,667 @ $4,000,000 (1.67%)
   Check 1 Returns: $0 (1.67% ownership @ exit)

Company 13 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 0.63%)
   Check 1: $66,667 @ $10,500,000 (0.63%)
   Check 1 Returns: $0 (0.63% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 0.58%)
   Check 1: $66,667 @ $11,500,000 (0.58%)
   Check 1 Returns: $0 (0.58% ownership @ exit)

Company 15 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 2.22%)
   Check 1: $66,667 @ $3,000,000 (2.22%)
   Check 1 Returns: $0 (2.22% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 0.95%)
   Check 1: $66,667 @ $7,000,000 (0.95%)
   Check 1 Returns: $0 (0.95% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 20 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 0.48%)
   Check 1: $66,667 @ $14,000,000 (0.48%)
   Check 1 Returns: $0 (0.48% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 1.48%)
   Check 1: $66,667 @ $4,500,000 (1.48%)
   Check 1 Returns: $0 (1.48% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $9,000,000
Return: $0 (own at exit: 0.74%)
   Check 1: $66,667 @ $9,000,000 (0.74%)
   Check 1 Returns: $0 (0.74% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 2.22%)
   Check 1: $66,667 @ $3,000,000 (2.22%)
   Check 1 Returns: $0 (2.22% ownership @ exit)

Company 27 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 0.48%)
   Check 1: $66,667 @ $14,000,000 (0.48%)
   Check 1 Returns: $0 (0.48% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 0.83%)
   Check 1: $66,667 @ $8,000,000 (0.83%)
   Check 1 Returns: $0 (0.83% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $66,667
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 4.44%)
   Check 1: $66,667 @ $1,500,000 (4.44%)
   Check 1 Returns: $0 (4.44% 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
$2,000,000
Investments
30
Reserve
0%
Follow-on rate
0%
Follow-on Picking
Above Average 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