Fork of Fork of Fork of IBEX Early Stage Equity Fund by @ZanDapcevic

Probability of Fund Multiple

1x
96.5%
3x
30.5%
10x
2.5%

TVPI Distribution

3rd Quartile
1.73
Median
2.35
Top Quartile
3.36

Investments

Initial Check
$525K
Follow-on
$1M
Blended Cost Basis
$9.7M

Company Ownership

Avg Initial
10.9%
Avg At Exit
13.4%
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 37 - $1,081,608,791 exit after 6 rounds
Invested: $525,000
Blended Cost Basis: $15,000,000
Return: $12,404,755 (own at exit: 1.15%)
   Check 1: $525,000 @ $15,000,000 (3.5%)
   Check 1 Returns: $12,404,754 (1.15% ownership @ exit)

Company 36 - $862,883,085 exit after 6 rounds
Invested: $1,525,000
Blended Cost Basis: $19,782,658
Return: $24,276,775 (own at exit: 2.81%)
   Check 1: $525,000 @ $12,500,000 (4.2%)
   Check 1 Returns: $11,875,480 (1.38% ownership @ exit)
   Check 2: $1,000,000 @ $28,500,000 (3.51%)
   Check 2 Returns: $12,401,295 (1.44% ownership @ exit)

Company 11 - $105,558,632 exit after 4 rounds
Invested: $1,525,000
Blended Cost Basis: $14,147,059
Return: $6,191,134 (own at exit: 5.87%)
   Check 1: $525,000 @ $6,500,000 (8.08%)
   Check 1 Returns: $4,365,255 (4.14% ownership @ exit)
   Check 2: $1,000,000 @ $37,000,000 (2.7%)
   Check 2 Returns: $1,825,879 (1.73% ownership @ exit)

Company 28 - $82,070,214 exit after 4 rounds
Invested: $1,525,000
Blended Cost Basis: $17,627,376
Return: $3,963,559 (own at exit: 4.83%)
   Check 1: $525,000 @ $9,500,000 (5.53%)
   Check 1 Returns: $2,322,155 (2.83% ownership @ exit)
   Check 2: $1,000,000 @ $32,000,000 (3.12%)
   Check 2 Returns: $1,641,404 (2% ownership @ exit)

Company 38 - $58,960,132 exit after 3 rounds
Invested: $525,000
Blended Cost Basis: $10,500,000
Return: $1,886,724 (own at exit: 3.2%)
   Check 1: $525,000 @ $10,500,000 (5%)
   Check 1 Returns: $1,886,724 (3.2% ownership @ exit)

Company 9 - $55,505,948 exit after 3 rounds
Invested: $525,000
Blended Cost Basis: $9,000,000
Return: $2,072,222 (own at exit: 3.73%)
   Check 1: $525,000 @ $9,000,000 (5.83%)
   Check 1 Returns: $2,072,222 (3.73% ownership @ exit)

Company 31 - $54,596,412 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $21,892,638
Return: $2,702,756 (own at exit: 4.95%)
   Check 1: $525,000 @ $13,500,000 (3.89%)
   Check 1 Returns: $1,358,844 (2.49% ownership @ exit)
   Check 2: $1,000,000 @ $32,500,000 (3.08%)
   Check 2 Returns: $1,343,911 (2.46% ownership @ exit)

Company 26 - $52,878,185 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $18,381,093
Return: $3,139,513 (own at exit: 5.94%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $1,480,589 (2.8% ownership @ exit)
   Check 2: $1,000,000 @ $25,500,000 (3.92%)
   Check 2 Returns: $1,658,923 (3.14% ownership @ exit)

Company 29 - $49,005,879 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $22,381,892
Return: $2,297,003 (own at exit: 4.69%)
   Check 1: $525,000 @ $11,000,000 (4.77%)
   Check 1 Returns: $1,496,906 (3.05% ownership @ exit)
   Check 2: $1,000,000 @ $49,000,000 (2.04%)
   Check 2 Returns: $800,095 (1.63% ownership @ exit)

Company 34 - $46,622,095 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $15,380,789
Return: $3,262,912 (own at exit: 7%)
   Check 1: $525,000 @ $9,000,000 (5.83%)
   Check 1 Returns: $1,740,558 (3.73% ownership @ exit)
   Check 2: $1,000,000 @ $24,500,000 (4.08%)
   Check 2 Returns: $1,522,354 (3.27% ownership @ exit)

Company 1 - $46,293,986 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $15,948,787
Return: $2,985,723 (own at exit: 6.45%)
   Check 1: $525,000 @ $7,000,000 (7.5%)
   Check 1 Returns: $2,222,111 (4.8% ownership @ exit)
   Check 2: $1,000,000 @ $48,500,000 (2.06%)
   Check 2 Returns: $763,612 (1.65% ownership @ exit)

Company 30 - $45,686,659 exit after 3 rounds
Invested: $525,000
Blended Cost Basis: $9,500,000
Return: $1,615,865 (own at exit: 3.54%)
   Check 1: $525,000 @ $9,500,000 (5.53%)
   Check 1 Returns: $1,615,864 (3.54% ownership @ exit)

Company 27 - $45,679,691 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $17,941,176
Return: $2,679,875 (own at exit: 5.87%)
   Check 1: $525,000 @ $9,000,000 (5.83%)
   Check 1 Returns: $1,705,375 (3.73% ownership @ exit)
   Check 2: $1,000,000 @ $37,500,000 (2.67%)
   Check 2 Returns: $974,500 (2.13% ownership @ exit)

Company 7 - $45,283,593 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $17,822,460
Return: $2,699,393 (own at exit: 5.96%)
   Check 1: $525,000 @ $9,500,000 (5.53%)
   Check 1 Returns: $1,601,609 (3.54% ownership @ exit)
   Check 2: $1,000,000 @ $33,000,000 (3.03%)
   Check 2 Returns: $1,097,784 (2.42% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 5.25%)
   Check 1: $525,000 @ $10,000,000 (5.25%)
   Check 1 Returns: $0 (5.25% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 52.5%)
   Check 1: $525,000 @ $1,000,000 (52.5%)
   Check 1 Returns: $0 (52.5% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 4.2%)
   Check 1: $525,000 @ $12,500,000 (4.2%)
   Check 1 Returns: $0 (4.2% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 4.77%)
   Check 1: $525,000 @ $11,000,000 (4.77%)
   Check 1 Returns: $0 (4.77% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 26.25%)
   Check 1: $525,000 @ $2,000,000 (26.25%)
   Check 1 Returns: $0 (26.25% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 5.53%)
   Check 1: $525,000 @ $9,500,000 (5.53%)
   Check 1 Returns: $0 (5.53% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 4.57%)
   Check 1: $525,000 @ $11,500,000 (4.57%)
   Check 1 Returns: $0 (4.57% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 7%)
   Check 1: $525,000 @ $7,500,000 (7%)
   Check 1 Returns: $0 (7% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 4.38%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $0 (4.38% ownership @ exit)

Company 13 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 4.38%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $0 (4.38% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 4.38%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $0 (4.38% ownership @ exit)

Company 15 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 21%)
   Check 1: $525,000 @ $2,500,000 (21%)
   Check 1 Returns: $0 (21% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 3.5%)
   Check 1: $525,000 @ $15,000,000 (3.5%)
   Check 1 Returns: $0 (3.5% ownership @ exit)

Company 17 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 7%)
   Check 1: $525,000 @ $7,500,000 (7%)
   Check 1 Returns: $0 (7% ownership @ exit)

Company 18 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 3.89%)
   Check 1: $525,000 @ $13,500,000 (3.89%)
   Check 1 Returns: $0 (3.89% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 9.55%)
   Check 1: $525,000 @ $5,500,000 (9.55%)
   Check 1 Returns: $0 (9.55% ownership @ exit)

Company 20 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 10.5%)
   Check 1: $525,000 @ $5,000,000 (10.5%)
   Check 1 Returns: $0 (10.5% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 7.5%)
   Check 1: $525,000 @ $7,000,000 (7.5%)
   Check 1 Returns: $0 (7.5% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 4.38%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $0 (4.38% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 11.67%)
   Check 1: $525,000 @ $4,500,000 (11.67%)
   Check 1 Returns: $0 (11.67% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 7%)
   Check 1: $525,000 @ $7,500,000 (7%)
   Check 1 Returns: $0 (7% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 7%)
   Check 1: $525,000 @ $7,500,000 (7%)
   Check 1 Returns: $0 (7% ownership @ exit)

Company 32 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 4.77%)
   Check 1: $525,000 @ $11,000,000 (4.77%)
   Check 1 Returns: $0 (4.77% ownership @ exit)

Company 33 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 4.2%)
   Check 1: $525,000 @ $12,500,000 (4.2%)
   Check 1 Returns: $0 (4.2% ownership @ exit)

Company 35 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $14,500,000
Return: $0 (own at exit: 3.62%)
   Check 1: $525,000 @ $14,500,000 (3.62%)
   Check 1 Returns: $0 (3.62% ownership @ exit)

Company 39 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $9,000,000
Return: $0 (own at exit: 5.83%)
   Check 1: $525,000 @ $9,000,000 (5.83%)
   Check 1 Returns: $0 (5.83% 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 20 - $1,140,390,675 exit after 6 rounds
Invested: $1,525,000
Blended Cost Basis: $20,606,611
Return: $29,663,617 (own at exit: 2.6%)
   Check 1: $525,000 @ $10,000,000 (5.25%)
   Check 1 Returns: $19,618,368 (1.72% ownership @ exit)
   Check 2: $1,000,000 @ $46,500,000 (2.15%)
   Check 2 Returns: $10,045,247 (0.88% ownership @ exit)

Company 2 - $1,112,305,178 exit after 6 rounds
Invested: $1,525,000
Blended Cost Basis: $11,417,112
Return: $51,287,565 (own at exit: 4.61%)
   Check 1: $525,000 @ $5,000,000 (10.5%)
   Check 1 Returns: $38,270,416 (3.44% ownership @ exit)
   Check 2: $1,000,000 @ $35,000,000 (2.86%)
   Check 2 Returns: $13,017,148 (1.17% ownership @ exit)

Company 15 - $114,197,947 exit after 4 rounds
Invested: $1,525,000
Blended Cost Basis: $23,836,311
Return: $4,062,013 (own at exit: 3.56%)
   Check 1: $525,000 @ $12,500,000 (4.2%)
   Check 1 Returns: $2,455,712 (2.15% ownership @ exit)
   Check 2: $1,000,000 @ $45,500,000 (2.2%)
   Check 2 Returns: $1,606,300 (1.41% ownership @ exit)

Company 39 - $59,548,844 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $20,459,627
Return: $3,193,582 (own at exit: 5.36%)
   Check 1: $525,000 @ $14,000,000 (3.75%)
   Check 1 Returns: $1,429,172 (2.4% ownership @ exit)
   Check 2: $1,000,000 @ $27,000,000 (3.7%)
   Check 2 Returns: $1,764,410 (2.96% ownership @ exit)

Company 19 - $58,576,253 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $19,870,159
Return: $3,218,007 (own at exit: 5.49%)
   Check 1: $525,000 @ $13,000,000 (4.04%)
   Check 1 Returns: $1,513,970 (2.58% ownership @ exit)
   Check 2: $1,000,000 @ $27,500,000 (3.64%)
   Check 2 Returns: $1,704,036 (2.91% ownership @ exit)

Company 18 - $56,633,432 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $18,417,200
Return: $3,275,815 (own at exit: 5.78%)
   Check 1: $525,000 @ $10,000,000 (5.25%)
   Check 1 Returns: $1,902,883 (3.36% ownership @ exit)
   Check 2: $1,000,000 @ $33,000,000 (3.03%)
   Check 2 Returns: $1,372,931 (2.42% ownership @ exit)

Company 1 - $50,720,072 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $26,142,857
Return: $2,062,616 (own at exit: 4.07%)
   Check 1: $525,000 @ $14,000,000 (3.75%)
   Check 1 Returns: $1,217,281 (2.4% ownership @ exit)
   Check 2: $1,000,000 @ $48,000,000 (2.08%)
   Check 2 Returns: $845,334 (1.67% ownership @ exit)

Company 32 - $45,598,485 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $23,072,366
Return: $2,104,694 (own at exit: 4.62%)
   Check 1: $525,000 @ $12,500,000 (4.2%)
   Check 1 Returns: $1,225,687 (2.69% ownership @ exit)
   Check 2: $1,000,000 @ $41,500,000 (2.41%)
   Check 2 Returns: $879,006 (1.93% ownership @ exit)

Company 13 - $44,455,871 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $9,798,237
Return: $4,601,725 (own at exit: 10.35%)
   Check 1: $525,000 @ $4,000,000 (13.12%)
   Check 1 Returns: $3,734,293 (8.4% ownership @ exit)
   Check 2: $1,000,000 @ $41,000,000 (2.44%)
   Check 2 Returns: $867,431 (1.95% ownership @ exit)

Company 24 - $40,677,503 exit after 3 rounds
Invested: $1,525,000
Blended Cost Basis: $14,754,136
Return: $2,936,455 (own at exit: 7.22%)
   Check 1: $525,000 @ $8,000,000 (6.56%)
   Check 1 Returns: $1,708,455 (4.2% ownership @ exit)
   Check 2: $1,000,000 @ $26,500,000 (3.77%)
   Check 2 Returns: $1,228,000 (3.02% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 26.25%)
   Check 1: $525,000 @ $2,000,000 (26.25%)
   Check 1 Returns: $0 (26.25% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $3,500,000
Return: $0 (own at exit: 15%)
   Check 1: $525,000 @ $3,500,000 (15%)
   Check 1 Returns: $0 (15% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 9.55%)
   Check 1: $525,000 @ $5,500,000 (9.55%)
   Check 1 Returns: $0 (9.55% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 26.25%)
   Check 1: $525,000 @ $2,000,000 (26.25%)
   Check 1 Returns: $0 (26.25% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 4.57%)
   Check 1: $525,000 @ $11,500,000 (4.57%)
   Check 1 Returns: $0 (4.57% ownership @ exit)

Company 7 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 6.56%)
   Check 1: $525,000 @ $8,000,000 (6.56%)
   Check 1 Returns: $0 (6.56% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 5.53%)
   Check 1: $525,000 @ $9,500,000 (5.53%)
   Check 1 Returns: $0 (5.53% ownership @ exit)

Company 9 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 4.38%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $0 (4.38% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $6,000,000
Return: $0 (own at exit: 8.75%)
   Check 1: $525,000 @ $6,000,000 (8.75%)
   Check 1 Returns: $0 (8.75% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 13.12%)
   Check 1: $525,000 @ $4,000,000 (13.12%)
   Check 1 Returns: $0 (13.12% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 17.5%)
   Check 1: $525,000 @ $3,000,000 (17.5%)
   Check 1 Returns: $0 (17.5% ownership @ exit)

Company 14 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 9.55%)
   Check 1: $525,000 @ $5,500,000 (9.55%)
   Check 1 Returns: $0 (9.55% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 3.5%)
   Check 1: $525,000 @ $15,000,000 (3.5%)
   Check 1 Returns: $0 (3.5% ownership @ exit)

Company 17 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 9.55%)
   Check 1: $525,000 @ $5,500,000 (9.55%)
   Check 1 Returns: $0 (9.55% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 52.5%)
   Check 1: $525,000 @ $1,000,000 (52.5%)
   Check 1 Returns: $0 (52.5% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 3.89%)
   Check 1: $525,000 @ $13,500,000 (3.89%)
   Check 1 Returns: $0 (3.89% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 9.55%)
   Check 1: $525,000 @ $5,500,000 (9.55%)
   Check 1 Returns: $0 (9.55% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 4.2%)
   Check 1: $525,000 @ $12,500,000 (4.2%)
   Check 1 Returns: $0 (4.2% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $11,500,000
Return: $0 (own at exit: 4.57%)
   Check 1: $525,000 @ $11,500,000 (4.57%)
   Check 1 Returns: $0 (4.57% ownership @ exit)

Company 27 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 5%)
   Check 1: $525,000 @ $10,500,000 (5%)
   Check 1 Returns: $0 (5% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 4.77%)
   Check 1: $525,000 @ $11,000,000 (4.77%)
   Check 1 Returns: $0 (4.77% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 6.18%)
   Check 1: $525,000 @ $8,500,000 (6.18%)
   Check 1 Returns: $0 (6.18% ownership @ exit)

Company 30 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 4.38%)
   Check 1: $525,000 @ $12,000,000 (4.38%)
   Check 1 Returns: $0 (4.38% ownership @ exit)

Company 31 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 35%)
   Check 1: $525,000 @ $1,500,000 (35%)
   Check 1 Returns: $0 (35% ownership @ exit)

Company 33 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 21%)
   Check 1: $525,000 @ $2,500,000 (21%)
   Check 1 Returns: $0 (21% ownership @ exit)

Company 34 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 3.89%)
   Check 1: $525,000 @ $13,500,000 (3.89%)
   Check 1 Returns: $0 (3.89% ownership @ exit)

Company 35 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 10.5%)
   Check 1: $525,000 @ $5,000,000 (10.5%)
   Check 1 Returns: $0 (10.5% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 6.18%)
   Check 1: $525,000 @ $8,500,000 (6.18%)
   Check 1 Returns: $0 (6.18% ownership @ exit)

Company 37 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 4.04%)
   Check 1: $525,000 @ $13,000,000 (4.04%)
   Check 1 Returns: $0 (4.04% ownership @ exit)

Company 38 - $0 exit after 1 rounds
Invested: $525,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 13.12%)
   Check 1: $525,000 @ $4,000,000 (13.12%)
   Check 1 Returns: $0 (13.12% 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
40
Reserve
30%
Follow-on rate
20%
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

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Portfolio Size
40
Initial Ownership
10.86%
Terminal Ownership
12.42%
Median TVPI
2.36
Chance of 3x
32.5%
Blended Cost Basis
$10M