baseline by @AkashVaswani7

Probability of Fund Multiple

1x
96.5%
3x
38.6%
10x
4.1%

TVPI Distribution

3rd Quartile
1.83
Median
2.58
Top Quartile
3.71

Investments

Initial Check
$400K
Follow-on
$0
Blended Cost Basis
$8M

Company Ownership

Avg Initial
8.3%
Avg At Exit
11.39%
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.

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Median Fund Portfolio

Company 22 - $1,089,109,571 exit after 6 rounds
Invested: $400,000
Blended Cost Basis: $15,000,000
Return: $9,516,785 (own at exit: 0.87%)
   Check 1: $400,000 @ $15,000,000 (2.67%)
   Check 1 Returns: $9,516,784 (0.87% ownership @ exit)

Company 17 - $1,015,301,815 exit after 6 rounds
Invested: $400,000
Blended Cost Basis: $11,000,000
Return: $12,097,967 (own at exit: 1.19%)
   Check 1: $400,000 @ $11,000,000 (3.64%)
   Check 1 Returns: $12,097,967 (1.19% ownership @ exit)
   Check 2: $0 @ $24,500,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 34 - $113,328,794 exit after 4 rounds
Invested: $400,000
Blended Cost Basis: $10,500,000
Return: $2,210,451 (own at exit: 1.95%)
   Check 1: $400,000 @ $10,500,000 (3.81%)
   Check 1 Returns: $2,210,451 (1.95% ownership @ exit)
   Check 2: $0 @ $50,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 0 - $97,243,454 exit after 4 rounds
Invested: $400,000
Blended Cost Basis: $10,000,000
Return: $1,991,546 (own at exit: 2.05%)
   Check 1: $400,000 @ $10,000,000 (4%)
   Check 1 Returns: $1,991,545 (2.05% ownership @ exit)

Company 24 - $94,900,947 exit after 4 rounds
Invested: $400,000
Blended Cost Basis: $14,000,000
Return: $1,388,265 (own at exit: 1.46%)
   Check 1: $400,000 @ $14,000,000 (2.86%)
   Check 1 Returns: $1,388,265 (1.46% ownership @ exit)

Company 1 - $57,697,638 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $12,000,000
Return: $1,230,883 (own at exit: 2.13%)
   Check 1: $400,000 @ $12,000,000 (3.33%)
   Check 1 Returns: $1,230,882 (2.13% ownership @ exit)
   Check 2: $0 @ $22,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 20 - $57,482,640 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $11,000,000
Return: $1,337,778 (own at exit: 2.33%)
   Check 1: $400,000 @ $11,000,000 (3.64%)
   Check 1 Returns: $1,337,777 (2.33% ownership @ exit)

Company 16 - $55,312,489 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $5,000,000
Return: $2,831,999 (own at exit: 5.12%)
   Check 1: $400,000 @ $5,000,000 (8%)
   Check 1 Returns: $2,831,999 (5.12% ownership @ exit)
   Check 2: $0 @ $42,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 33 - $52,516,336 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $3,500,000
Return: $3,841,195 (own at exit: 7.31%)
   Check 1: $400,000 @ $3,500,000 (11.43%)
   Check 1 Returns: $3,841,194 (7.31% ownership @ exit)

Company 27 - $51,357,532 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $12,500,000
Return: $1,051,802 (own at exit: 2.05%)
   Check 1: $400,000 @ $12,500,000 (3.2%)
   Check 1 Returns: $1,051,802 (2.05% ownership @ exit)

Company 40 - $45,652,771 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $2,000,000
Return: $5,843,555 (own at exit: 12.8%)
   Check 1: $400,000 @ $2,000,000 (20%)
   Check 1 Returns: $5,843,554 (12.8% ownership @ exit)

Company 32 - $43,475,772 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $2,500,000
Return: $4,451,919 (own at exit: 10.24%)
   Check 1: $400,000 @ $2,500,000 (16%)
   Check 1 Returns: $4,451,919 (10.24% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 40%)
   Check 1: $400,000 @ $1,000,000 (40%)
   Check 1 Returns: $0 (40% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 3.81%)
   Check 1: $400,000 @ $10,500,000 (3.81%)
   Check 1 Returns: $0 (3.81% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 20%)
   Check 1: $400,000 @ $2,000,000 (20%)
   Check 1 Returns: $0 (20% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 13.33%)
   Check 1: $400,000 @ $3,000,000 (13.33%)
   Check 1 Returns: $0 (13.33% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 13.33%)
   Check 1: $400,000 @ $3,000,000 (13.33%)
   Check 1 Returns: $0 (13.33% ownership @ exit)

Company 7 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 8%)
   Check 1: $400,000 @ $5,000,000 (8%)
   Check 1 Returns: $0 (8% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.71%)
   Check 1: $400,000 @ $8,500,000 (4.71%)
   Check 1 Returns: $0 (4.71% ownership @ exit)

Company 9 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 7.27%)
   Check 1: $400,000 @ $5,500,000 (7.27%)
   Check 1 Returns: $0 (7.27% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 6.15%)
   Check 1: $400,000 @ $6,500,000 (6.15%)
   Check 1 Returns: $0 (6.15% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 8.89%)
   Check 1: $400,000 @ $4,500,000 (8.89%)
   Check 1 Returns: $0 (8.89% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 3.48%)
   Check 1: $400,000 @ $11,500,000 (3.48%)
   Check 1 Returns: $0 (3.48% ownership @ exit)

Company 13 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 4%)
   Check 1: $400,000 @ $10,000,000 (4%)
   Check 1 Returns: $0 (4% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $9,000,000
Return: $0 (own at exit: 4.44%)
   Check 1: $400,000 @ $9,000,000 (4.44%)
   Check 1 Returns: $0 (4.44% ownership @ exit)

Company 15 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 2.86%)
   Check 1: $400,000 @ $14,000,000 (2.86%)
   Check 1 Returns: $0 (2.86% ownership @ exit)

Company 18 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.71%)
   Check 1: $400,000 @ $8,500,000 (4.71%)
   Check 1 Returns: $0 (4.71% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 3.2%)
   Check 1: $400,000 @ $12,500,000 (3.2%)
   Check 1 Returns: $0 (3.2% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 13.33%)
   Check 1: $400,000 @ $3,000,000 (13.33%)
   Check 1 Returns: $0 (13.33% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 3.64%)
   Check 1: $400,000 @ $11,000,000 (3.64%)
   Check 1 Returns: $0 (3.64% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 5%)
   Check 1: $400,000 @ $8,000,000 (5%)
   Check 1 Returns: $0 (5% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 2.86%)
   Check 1: $400,000 @ $14,000,000 (2.86%)
   Check 1 Returns: $0 (2.86% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 7.27%)
   Check 1: $400,000 @ $5,500,000 (7.27%)
   Check 1 Returns: $0 (7.27% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 3.2%)
   Check 1: $400,000 @ $12,500,000 (3.2%)
   Check 1 Returns: $0 (3.2% ownership @ exit)

Company 30 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 3.48%)
   Check 1: $400,000 @ $11,500,000 (3.48%)
   Check 1 Returns: $0 (3.48% ownership @ exit)

Company 31 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 6.15%)
   Check 1: $400,000 @ $6,500,000 (6.15%)
   Check 1 Returns: $0 (6.15% ownership @ exit)

Company 35 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 40%)
   Check 1: $400,000 @ $1,000,000 (40%)
   Check 1 Returns: $0 (40% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 2.86%)
   Check 1: $400,000 @ $14,000,000 (2.86%)
   Check 1 Returns: $0 (2.86% ownership @ exit)

Company 37 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.71%)
   Check 1: $400,000 @ $8,500,000 (4.71%)
   Check 1 Returns: $0 (4.71% ownership @ exit)

Company 38 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 7.27%)
   Check 1: $400,000 @ $5,500,000 (7.27%)
   Check 1 Returns: $0 (7.27% ownership @ exit)

Company 39 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 2.86%)
   Check 1: $400,000 @ $14,000,000 (2.86%)
   Check 1 Returns: $0 (2.86% ownership @ exit)

Company 41 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 2.96%)
   Check 1: $400,000 @ $13,500,000 (2.96%)
   Check 1 Returns: $0 (2.96% ownership @ exit)

Company 42 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 2.76%)
   Check 1: $400,000 @ $14,500,000 (2.76%)
   Check 1 Returns: $0 (2.76% ownership @ exit)

Company 43 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 13.33%)
   Check 1: $400,000 @ $3,000,000 (13.33%)
   Check 1 Returns: $0 (13.33% ownership @ exit)

Company 44 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 3.2%)
   Check 1: $400,000 @ $12,500,000 (3.2%)
   Check 1 Returns: $0 (3.2% 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 3 - $1,164,596,328 exit after 6 rounds
Invested: $400,000
Blended Cost Basis: $6,500,000
Return: $23,483,995 (own at exit: 2.02%)
   Check 1: $400,000 @ $6,500,000 (6.15%)
   Check 1 Returns: $23,483,995 (2.02% ownership @ exit)

Company 22 - $1,119,100,480 exit after 6 rounds
Invested: $400,000
Blended Cost Basis: $7,500,000
Return: $19,557,698 (own at exit: 1.75%)
   Check 1: $400,000 @ $7,500,000 (5.33%)
   Check 1 Returns: $19,557,698 (1.75% ownership @ exit)
   Check 2: $0 @ $29,000,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 33 - $99,331,876 exit after 4 rounds
Invested: $400,000
Blended Cost Basis: $6,500,000
Return: $3,129,718 (own at exit: 3.15%)
   Check 1: $400,000 @ $6,500,000 (6.15%)
   Check 1 Returns: $3,129,718 (3.15% ownership @ exit)
   Check 2: $0 @ $34,500,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 41 - $58,973,442 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $12,500,000
Return: $1,207,776 (own at exit: 2.05%)
   Check 1: $400,000 @ $12,500,000 (3.2%)
   Check 1 Returns: $1,207,776 (2.05% ownership @ exit)
   Check 2: $0 @ $40,500,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 15 - $58,906,273 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $5,000,000
Return: $3,016,001 (own at exit: 5.12%)
   Check 1: $400,000 @ $5,000,000 (8%)
   Check 1 Returns: $3,016,001 (5.12% ownership @ exit)

Company 20 - $54,825,978 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $6,000,000
Return: $2,339,242 (own at exit: 4.27%)
   Check 1: $400,000 @ $6,000,000 (6.67%)
   Check 1 Returns: $2,339,241 (4.27% ownership @ exit)

Company 23 - $53,815,328 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $6,500,000
Return: $2,119,496 (own at exit: 3.94%)
   Check 1: $400,000 @ $6,500,000 (6.15%)
   Check 1 Returns: $2,119,496 (3.94% ownership @ exit)

Company 44 - $51,421,608 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $11,500,000
Return: $1,144,690 (own at exit: 2.23%)
   Check 1: $400,000 @ $11,500,000 (3.48%)
   Check 1 Returns: $1,144,689 (2.23% ownership @ exit)

Company 31 - $48,993,501 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $10,000,000
Return: $1,254,234 (own at exit: 2.56%)
   Check 1: $400,000 @ $10,000,000 (4%)
   Check 1 Returns: $1,254,233 (2.56% ownership @ exit)

Company 11 - $46,597,945 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $4,000,000
Return: $2,982,268 (own at exit: 6.4%)
   Check 1: $400,000 @ $4,000,000 (10%)
   Check 1 Returns: $2,982,268 (6.4% ownership @ exit)

Company 26 - $45,950,465 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $3,500,000
Return: $3,360,948 (own at exit: 7.31%)
   Check 1: $400,000 @ $3,500,000 (11.43%)
   Check 1 Returns: $3,360,948 (7.31% ownership @ exit)

Company 2 - $44,947,361 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $14,000,000
Return: $821,895 (own at exit: 1.83%)
   Check 1: $400,000 @ $14,000,000 (2.86%)
   Check 1 Returns: $821,894 (1.83% ownership @ exit)
   Check 2: $0 @ $38,500,000 (0%)
   Check 2 Returns: $0 (0% ownership @ exit)

Company 13 - $44,674,494 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $10,000,000
Return: $1,143,667 (own at exit: 2.56%)
   Check 1: $400,000 @ $10,000,000 (4%)
   Check 1 Returns: $1,143,667 (2.56% ownership @ exit)

Company 35 - $43,678,432 exit after 3 rounds
Invested: $400,000
Blended Cost Basis: $7,000,000
Return: $1,597,383 (own at exit: 3.66%)
   Check 1: $400,000 @ $7,000,000 (5.71%)
   Check 1 Returns: $1,597,382 (3.66% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 4%)
   Check 1: $400,000 @ $10,000,000 (4%)
   Check 1 Returns: $0 (4% ownership @ exit)

Company 1 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 16%)
   Check 1: $400,000 @ $2,500,000 (16%)
   Check 1 Returns: $0 (16% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.71%)
   Check 1: $400,000 @ $8,500,000 (4.71%)
   Check 1 Returns: $0 (4.71% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 3.81%)
   Check 1: $400,000 @ $10,500,000 (3.81%)
   Check 1 Returns: $0 (3.81% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 3.08%)
   Check 1: $400,000 @ $13,000,000 (3.08%)
   Check 1 Returns: $0 (3.08% ownership @ exit)

Company 7 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 13.33%)
   Check 1: $400,000 @ $3,000,000 (13.33%)
   Check 1 Returns: $0 (13.33% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 3.08%)
   Check 1: $400,000 @ $13,000,000 (3.08%)
   Check 1 Returns: $0 (3.08% ownership @ exit)

Company 9 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 8%)
   Check 1: $400,000 @ $5,000,000 (8%)
   Check 1 Returns: $0 (8% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 4%)
   Check 1: $400,000 @ $10,000,000 (4%)
   Check 1 Returns: $0 (4% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 3.48%)
   Check 1: $400,000 @ $11,500,000 (3.48%)
   Check 1 Returns: $0 (3.48% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 26.67%)
   Check 1: $400,000 @ $1,500,000 (26.67%)
   Check 1 Returns: $0 (26.67% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 3.33%)
   Check 1: $400,000 @ $12,000,000 (3.33%)
   Check 1 Returns: $0 (3.33% ownership @ exit)

Company 17 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 26.67%)
   Check 1: $400,000 @ $1,500,000 (26.67%)
   Check 1 Returns: $0 (26.67% ownership @ exit)

Company 18 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.67%)
   Check 1: $400,000 @ $15,000,000 (2.67%)
   Check 1 Returns: $0 (2.67% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 8%)
   Check 1: $400,000 @ $5,000,000 (8%)
   Check 1 Returns: $0 (8% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 3.2%)
   Check 1: $400,000 @ $12,500,000 (3.2%)
   Check 1 Returns: $0 (3.2% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 4.21%)
   Check 1: $400,000 @ $9,500,000 (4.21%)
   Check 1 Returns: $0 (4.21% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 3.33%)
   Check 1: $400,000 @ $12,000,000 (3.33%)
   Check 1 Returns: $0 (3.33% ownership @ exit)

Company 27 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 4.21%)
   Check 1: $400,000 @ $9,500,000 (4.21%)
   Check 1 Returns: $0 (4.21% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 3.81%)
   Check 1: $400,000 @ $10,500,000 (3.81%)
   Check 1 Returns: $0 (3.81% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 20%)
   Check 1: $400,000 @ $2,000,000 (20%)
   Check 1 Returns: $0 (20% ownership @ exit)

Company 30 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.71%)
   Check 1: $400,000 @ $8,500,000 (4.71%)
   Check 1 Returns: $0 (4.71% ownership @ exit)

Company 32 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 8%)
   Check 1: $400,000 @ $5,000,000 (8%)
   Check 1 Returns: $0 (8% ownership @ exit)

Company 34 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 8.89%)
   Check 1: $400,000 @ $4,500,000 (8.89%)
   Check 1 Returns: $0 (8.89% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.71%)
   Check 1: $400,000 @ $8,500,000 (4.71%)
   Check 1 Returns: $0 (4.71% ownership @ exit)

Company 37 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 26.67%)
   Check 1: $400,000 @ $1,500,000 (26.67%)
   Check 1 Returns: $0 (26.67% ownership @ exit)

Company 38 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 6.15%)
   Check 1: $400,000 @ $6,500,000 (6.15%)
   Check 1 Returns: $0 (6.15% ownership @ exit)

Company 39 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 3.48%)
   Check 1: $400,000 @ $11,500,000 (3.48%)
   Check 1 Returns: $0 (3.48% ownership @ exit)

Company 40 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $9,000,000
Return: $0 (own at exit: 4.44%)
   Check 1: $400,000 @ $9,000,000 (4.44%)
   Check 1 Returns: $0 (4.44% ownership @ exit)

Company 42 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 26.67%)
   Check 1: $400,000 @ $1,500,000 (26.67%)
   Check 1 Returns: $0 (26.67% ownership @ exit)

Company 43 - $0 exit after 1 rounds
Invested: $400,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 10%)
   Check 1: $400,000 @ $4,000,000 (10%)
   Check 1 Returns: $0 (10% 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
$18,000,000
Investments
45
Reserve
0%
Follow-on rate
6%
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