Pre-Seed 25 Companies india by @kushalbhagia

Probability of Fund Multiple

1x
50.7%
3x
18.4%
10x
0%

TVPI Distribution

3rd Quartile
0.33
Median
1.04
Top Quartile
2.58

Investments

Initial Check
$600K
Follow-on
$1.7M
Blended Cost Basis
$8M

Company Ownership

Avg Initial
12.89%
Avg At Exit
9.54%
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 19 - $1,198,753,147 exit after 6 rounds
Invested: $600,000
Blended Cost Basis: $7,000,000
Return: $33,669,208 (own at exit: 2.81%)
   Check 1: $600,000 @ $7,000,000 (8.57%)
   Check 1 Returns: $33,669,208 (2.81% ownership @ exit)

Company 14 - $112,414,937 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,000,000
Return: $4,604,516 (own at exit: 4.1%)
   Check 1: $600,000 @ $6,000,000 (10%)
   Check 1 Returns: $4,604,515 (4.1% ownership @ exit)

Company 0 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 8.19%)
   Check 1: $600,000 @ $3,000,000 (20%)
   Check 1 Returns: $0 (8.19% ownership @ exit)

Company 1 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $7,437,500
Return: $0 (own at exit: 13.85%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)
   Check 2: $1,666,667 @ $12,500,000 (13.33%)
   Check 2 Returns: $0 (6.83% ownership @ exit)

Company 2 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $7,555,556
Return: $0 (own at exit: 13.99%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $10,000,000 (16.67%)
   Check 2 Returns: $0 (8.53% ownership @ exit)

Company 3 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,667,323
Return: $0 (own at exit: 11.63%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)
   Check 2: $1,666,667 @ $18,500,000 (9.01%)
   Check 2 Returns: $0 (4.61% ownership @ exit)

Company 4 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $10,143,646
Return: $0 (own at exit: 10.42%)
   Check 1: $600,000 @ $6,000,000 (10%)
   Check 1 Returns: $0 (4.1% ownership @ exit)
   Check 2: $1,666,667 @ $13,500,000 (12.35%)
   Check 2 Returns: $0 (6.32% ownership @ exit)

Company 5 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 7.02%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)

Company 6 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 3.78%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)

Company 7 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 8.19%)
   Check 1: $600,000 @ $3,000,000 (20%)
   Check 1 Returns: $0 (8.19% ownership @ exit)

Company 8 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 6.14%)
   Check 1: $600,000 @ $4,000,000 (15%)
   Check 1 Returns: $0 (6.14% ownership @ exit)

Company 9 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 3.51%)
   Check 1: $600,000 @ $7,000,000 (8.57%)
   Check 1 Returns: $0 (3.51% ownership @ exit)

Company 10 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 3.78%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)

Company 11 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 3.51%)
   Check 1: $600,000 @ $7,000,000 (8.57%)
   Check 1 Returns: $0 (3.51% ownership @ exit)

Company 12 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 3.78%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)

Company 13 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 8.19%)
   Check 1: $600,000 @ $3,000,000 (20%)
   Check 1 Returns: $0 (8.19% ownership @ exit)

Company 15 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 3.78%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)

Company 16 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 3.51%)
   Check 1: $600,000 @ $7,000,000 (8.57%)
   Check 1 Returns: $0 (3.51% ownership @ exit)

Company 17 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 7.02%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)

Company 18 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,145,833
Return: $0 (own at exit: 12.88%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $11,500,000 (14.49%)
   Check 2 Returns: $0 (7.42% ownership @ exit)

Company 20 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $10,145,161
Return: $0 (own at exit: 10.07%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $18,500,000 (9.01%)
   Check 2 Returns: $0 (4.61% ownership @ exit)

Company 21 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $7,760,870
Return: $0 (own at exit: 13.59%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $10,500,000 (15.87%)
   Check 2 Returns: $0 (8.13% ownership @ exit)

Company 22 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $7,915,138
Return: $0 (own at exit: 12.91%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)
   Check 2: $1,666,667 @ $14,500,000 (11.49%)
   Check 2 Returns: $0 (5.89% ownership @ exit)

Company 23 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,555,799
Return: $0 (own at exit: 12.34%)
   Check 1: $600,000 @ $5,000,000 (12%)
   Check 1 Returns: $0 (4.92% ownership @ exit)
   Check 2: $1,666,667 @ $11,500,000 (14.49%)
   Check 2 Returns: $0 (7.42% ownership @ exit)

Company 24 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,752,475
Return: $0 (own at exit: 12.31%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)
   Check 2: $1,666,667 @ $10,000,000 (16.67%)
   Check 2 Returns: $0 (8.53% 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 5 - $1,027,897,568 exit after 6 rounds
Invested: $600,000
Blended Cost Basis: $5,500,000
Return: $36,744,161 (own at exit: 3.57%)
   Check 1: $600,000 @ $5,500,000 (10.91%)
   Check 1 Returns: $36,744,160 (3.57% ownership @ exit)

Company 1 - $936,866,645 exit after 6 rounds
Invested: $600,000
Blended Cost Basis: $4,500,000
Return: $40,932,328 (own at exit: 4.37%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $40,932,328 (4.37% ownership @ exit)

Company 0 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $12,905,109
Return: $0 (own at exit: 8.05%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)
   Check 2: $1,666,667 @ $20,000,000 (8.33%)
   Check 2 Returns: $0 (4.27% ownership @ exit)

Company 2 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,697,674
Return: $0 (own at exit: 12.23%)
   Check 1: $600,000 @ $5,500,000 (10.91%)
   Check 1 Returns: $0 (4.47% ownership @ exit)
   Check 2: $1,666,667 @ $11,000,000 (15.15%)
   Check 2 Returns: $0 (7.76% ownership @ exit)

Company 3 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,981,132
Return: $0 (own at exit: 11.56%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $14,000,000 (11.9%)
   Check 2 Returns: $0 (6.1% ownership @ exit)

Company 4 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $9,138,340
Return: $0 (own at exit: 11.16%)
   Check 1: $600,000 @ $4,000,000 (15%)
   Check 1 Returns: $0 (6.14% ownership @ exit)
   Check 2: $1,666,667 @ $17,000,000 (9.8%)
   Check 2 Returns: $0 (5.02% ownership @ exit)

Company 6 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $11,142,857
Return: $0 (own at exit: 9.47%)
   Check 1: $600,000 @ $6,500,000 (9.23%)
   Check 1 Returns: $0 (3.78% ownership @ exit)
   Check 2: $1,666,667 @ $15,000,000 (11.11%)
   Check 2 Returns: $0 (5.69% ownership @ exit)

Company 7 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 4.47%)
   Check 1: $600,000 @ $5,500,000 (10.91%)
   Check 1 Returns: $0 (4.47% ownership @ exit)

Company 8 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 5.46%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)

Company 9 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 7.02%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)

Company 10 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 3.51%)
   Check 1: $600,000 @ $7,000,000 (8.57%)
   Check 1 Returns: $0 (3.51% ownership @ exit)

Company 11 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 4.92%)
   Check 1: $600,000 @ $5,000,000 (12%)
   Check 1 Returns: $0 (4.92% ownership @ exit)

Company 12 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 6.14%)
   Check 1: $600,000 @ $4,000,000 (15%)
   Check 1 Returns: $0 (6.14% ownership @ exit)

Company 13 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 4.92%)
   Check 1: $600,000 @ $5,000,000 (12%)
   Check 1 Returns: $0 (4.92% ownership @ exit)

Company 14 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 4.1%)
   Check 1: $600,000 @ $6,000,000 (10%)
   Check 1 Returns: $0 (4.1% ownership @ exit)

Company 15 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 4.47%)
   Check 1: $600,000 @ $5,500,000 (10.91%)
   Check 1 Returns: $0 (4.47% ownership @ exit)

Company 16 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 4.1%)
   Check 1: $600,000 @ $6,000,000 (10%)
   Check 1 Returns: $0 (4.1% ownership @ exit)

Company 17 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 6.14%)
   Check 1: $600,000 @ $4,000,000 (15%)
   Check 1 Returns: $0 (6.14% ownership @ exit)

Company 18 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $7,164,921
Return: $0 (own at exit: 14.44%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)
   Check 2: $1,666,667 @ $11,500,000 (14.49%)
   Check 2 Returns: $0 (7.42% ownership @ exit)

Company 19 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,666,667
Return: $0 (own at exit: 12.03%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $13,000,000 (12.82%)
   Check 2 Returns: $0 (6.56% ownership @ exit)

Company 20 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 7.02%)
   Check 1: $600,000 @ $3,500,000 (17.14%)
   Check 1 Returns: $0 (7.02% ownership @ exit)

Company 21 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $9,272,727
Return: $0 (own at exit: 11.15%)
   Check 1: $600,000 @ $4,500,000 (13.33%)
   Check 1 Returns: $0 (5.46% ownership @ exit)
   Check 2: $1,666,667 @ $15,000,000 (11.11%)
   Check 2 Returns: $0 (5.69% ownership @ exit)

Company 22 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $8,697,674
Return: $0 (own at exit: 12.23%)
   Check 1: $600,000 @ $5,500,000 (10.91%)
   Check 1 Returns: $0 (4.47% ownership @ exit)
   Check 2: $1,666,667 @ $11,000,000 (15.15%)
   Check 2 Returns: $0 (7.76% ownership @ exit)

Company 23 - $0 exit after 5 rounds
Invested: $2,266,667
Blended Cost Basis: $6,181,818
Return: $0 (own at exit: 16.73%)
   Check 1: $600,000 @ $3,000,000 (20%)
   Check 1 Returns: $0 (8.19% ownership @ exit)
   Check 2: $1,666,667 @ $10,000,000 (16.67%)
   Check 2 Returns: $0 (8.53% ownership @ exit)

Company 24 - $0 exit after 5 rounds
Invested: $600,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 4.1%)
   Check 1: $600,000 @ $6,000,000 (10%)
   Check 1 Returns: $0 (4.1% 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
$30,000,000
Investments
25
Reserve
50%
Follow-on rate
33%
Follow-on Picking
Above Average Picking

Fork this model

Indian Preseed Market

Early Stage Indian Startups

Company Valuations

Entry Valuation
$3-7M
Follow-on Valuation
$10-20M

Dilution

Dilution Per Round
20%

Outcome Distribution

Probability Exit Rounds
1% $1B 6
2% $500M 5
5% $100M 5
92% $0 5