Fork of IBEX Early Stage Equity Fund by @ZanDapcevic

Probability of Fund Multiple

1x
97%
3x
31.9%
10x
2.7%

TVPI Distribution

3rd Quartile
1.75
Median
2.36
Top Quartile
3.43

Investments

Initial Check
$375K
Follow-on
$714.3K
Blended Cost Basis
$9.9M

Company Ownership

Avg Initial
7.75%
Avg At Exit
11.53%
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 8 - $1,127,283,391 exit after 6 rounds
Invested: $1,089,286
Blended Cost Basis: $19,073,344
Return: $22,724,593 (own at exit: 2.02%)
   Check 1: $375,000 @ $9,500,000 (3.95%)
   Check 1 Returns: $14,581,114 (1.29% ownership @ exit)
   Check 2: $714,286 @ $40,500,000 (1.76%)
   Check 2 Returns: $8,143,479 (0.72% ownership @ exit)

Company 32 - $107,015,259 exit after 4 rounds
Invested: $1,089,286
Blended Cost Basis: $7,588,045
Return: $8,119,659 (own at exit: 7.59%)
   Check 1: $375,000 @ $3,000,000 (12.5%)
   Check 1 Returns: $6,848,976 (6.4% ownership @ exit)
   Check 2: $714,286 @ $38,500,000 (1.86%)
   Check 2 Returns: $1,270,682 (1.19% ownership @ exit)

Company 27 - $101,997,350 exit after 4 rounds
Invested: $1,089,286
Blended Cost Basis: $15,340,237
Return: $3,982,525 (own at exit: 3.9%)
   Check 1: $375,000 @ $7,500,000 (5%)
   Check 1 Returns: $2,611,132 (2.56% ownership @ exit)
   Check 2: $714,286 @ $34,000,000 (2.1%)
   Check 2 Returns: $1,371,392 (1.34% ownership @ exit)

Company 20 - $86,396,404 exit after 4 rounds
Invested: $1,089,286
Blended Cost Basis: $18,813,084
Return: $2,740,748 (own at exit: 3.17%)
   Check 1: $375,000 @ $9,000,000 (4.17%)
   Check 1 Returns: $1,843,123 (2.13% ownership @ exit)
   Check 2: $714,286 @ $44,000,000 (1.62%)
   Check 2 Returns: $897,624 (1.04% ownership @ exit)

Company 14 - $55,375,014 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $19,030,402
Return: $2,246,786 (own at exit: 4.06%)
   Check 1: $375,000 @ $11,500,000 (3.26%)
   Check 1 Returns: $1,155,652 (2.09% ownership @ exit)
   Check 2: $714,286 @ $29,000,000 (2.46%)
   Check 2 Returns: $1,091,133 (1.97% ownership @ exit)

Company 7 - $55,267,563 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $22,666,667
Return: $1,848,445 (own at exit: 3.34%)
   Check 1: $375,000 @ $12,000,000 (3.12%)
   Check 1 Returns: $1,105,351 (2% ownership @ exit)
   Check 2: $714,286 @ $42,500,000 (1.68%)
   Check 2 Returns: $743,093 (1.34% ownership @ exit)

Company 18 - $46,747,644 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $6,980,100
Return: $4,901,244 (own at exit: 10.48%)
   Check 1: $375,000 @ $3,000,000 (12.5%)
   Check 1 Returns: $3,739,811 (8% ownership @ exit)
   Check 2: $714,286 @ $23,000,000 (3.11%)
   Check 2 Returns: $1,161,432 (2.48% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $1,000,000
Return: $0 (own at exit: 37.5%)
   Check 1: $375,000 @ $1,000,000 (37.5%)
   Check 1 Returns: $0 (37.5% ownership @ exit)

Company 1 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 2.88%)
   Check 1: $375,000 @ $13,000,000 (2.88%)
   Check 1 Returns: $0 (2.88% ownership @ exit)

Company 2 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 3.41%)
   Check 1: $375,000 @ $11,000,000 (3.41%)
   Check 1 Returns: $0 (3.41% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 5 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 3.41%)
   Check 1: $375,000 @ $11,000,000 (3.41%)
   Check 1 Returns: $0 (3.41% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 2.88%)
   Check 1: $375,000 @ $13,000,000 (2.88%)
   Check 1 Returns: $0 (2.88% ownership @ exit)

Company 9 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $375,000 @ $10,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $3,000,000
Return: $0 (own at exit: 12.5%)
   Check 1: $375,000 @ $3,000,000 (12.5%)
   Check 1 Returns: $0 (12.5% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 5.36%)
   Check 1: $375,000 @ $7,000,000 (5.36%)
   Check 1 Returns: $0 (5.36% ownership @ exit)

Company 13 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 18.75%)
   Check 1: $375,000 @ $2,000,000 (18.75%)
   Check 1 Returns: $0 (18.75% ownership @ exit)

Company 15 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $375,000 @ $13,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 17 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $375,000 @ $13,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $375,000 @ $13,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 21 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $375,000 @ $12,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $4,500,000
Return: $0 (own at exit: 8.33%)
   Check 1: $375,000 @ $4,500,000 (8.33%)
   Check 1 Returns: $0 (8.33% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $8,000,000
Return: $0 (own at exit: 4.69%)
   Check 1: $375,000 @ $8,000,000 (4.69%)
   Check 1 Returns: $0 (4.69% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $4,000,000
Return: $0 (own at exit: 9.38%)
   Check 1: $375,000 @ $4,000,000 (9.38%)
   Check 1 Returns: $0 (9.38% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 18.75%)
   Check 1: $375,000 @ $2,000,000 (18.75%)
   Check 1 Returns: $0 (18.75% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,000,000
Return: $0 (own at exit: 2.88%)
   Check 1: $375,000 @ $13,000,000 (2.88%)
   Check 1 Returns: $0 (2.88% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 3.95%)
   Check 1: $375,000 @ $9,500,000 (3.95%)
   Check 1 Returns: $0 (3.95% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 3.75%)
   Check 1: $375,000 @ $10,000,000 (3.75%)
   Check 1 Returns: $0 (3.75% ownership @ exit)

Company 30 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 31 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 18.75%)
   Check 1: $375,000 @ $2,000,000 (18.75%)
   Check 1 Returns: $0 (18.75% ownership @ exit)

Company 33 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $14,000,000
Return: $0 (own at exit: 2.68%)
   Check 1: $375,000 @ $14,000,000 (2.68%)
   Check 1 Returns: $0 (2.68% ownership @ exit)

Company 34 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 18.75%)
   Check 1: $375,000 @ $2,000,000 (18.75%)
   Check 1 Returns: $0 (18.75% ownership @ exit)

Company 35 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.41%)
   Check 1: $375,000 @ $8,500,000 (4.41%)
   Check 1 Returns: $0 (4.41% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $9,500,000
Return: $0 (own at exit: 3.95%)
   Check 1: $375,000 @ $9,500,000 (3.95%)
   Check 1 Returns: $0 (3.95% ownership @ exit)

Company 37 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $375,000 @ $12,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 38 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 25%)
   Check 1: $375,000 @ $1,500,000 (25%)
   Check 1 Returns: $0 (25% ownership @ exit)

Company 39 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $12,500,000
Return: $0 (own at exit: 3%)
   Check 1: $375,000 @ $12,500,000 (3%)
   Check 1 Returns: $0 (3% 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 39 - $1,194,806,513 exit after 6 rounds
Invested: $1,089,286
Blended Cost Basis: $21,801,444
Return: $21,115,214 (own at exit: 1.77%)
   Check 1: $375,000 @ $11,000,000 (3.41%)
   Check 1 Returns: $13,347,074 (1.12% ownership @ exit)
   Check 2: $714,286 @ $45,000,000 (1.59%)
   Check 2 Returns: $7,768,138 (0.65% ownership @ exit)

Company 2 - $1,157,687,048 exit after 6 rounds
Invested: $1,089,286
Blended Cost Basis: $24,657,255
Return: $18,495,572 (own at exit: 1.6%)
   Check 1: $375,000 @ $14,500,000 (2.59%)
   Check 1 Returns: $9,810,798 (0.85% ownership @ exit)
   Check 2: $714,286 @ $39,000,000 (1.83%)
   Check 2 Returns: $8,684,773 (0.75% ownership @ exit)

Company 30 - $114,462,031 exit after 4 rounds
Invested: $1,089,286
Blended Cost Basis: $10,041,578
Return: $6,573,054 (own at exit: 5.74%)
   Check 1: $375,000 @ $4,000,000 (9.38%)
   Check 1 Returns: $5,494,177 (4.8% ownership @ exit)
   Check 2: $714,286 @ $48,500,000 (1.47%)
   Check 2 Returns: $1,078,876 (0.94% ownership @ exit)

Company 13 - $111,121,849 exit after 4 rounds
Invested: $1,089,286
Blended Cost Basis: $24,152,284
Return: $2,826,484 (own at exit: 2.54%)
   Check 1: $375,000 @ $14,000,000 (2.68%)
   Check 1 Returns: $1,523,956 (1.37% ownership @ exit)
   Check 2: $714,286 @ $39,000,000 (1.83%)
   Check 2 Returns: $1,302,527 (1.17% ownership @ exit)

Company 37 - $95,299,254 exit after 4 rounds
Invested: $1,089,286
Blended Cost Basis: $19,597,397
Return: $2,932,667 (own at exit: 3.08%)
   Check 1: $375,000 @ $10,000,000 (3.75%)
   Check 1 Returns: $1,829,745 (1.92% ownership @ exit)
   Check 2: $714,286 @ $39,500,000 (1.81%)
   Check 2 Returns: $1,102,920 (1.16% ownership @ exit)

Company 21 - $59,670,675 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $10,055,509
Return: $4,276,108 (own at exit: 7.17%)
   Check 1: $375,000 @ $4,000,000 (9.38%)
   Check 1 Returns: $3,580,240 (6% ownership @ exit)
   Check 2: $714,286 @ $49,000,000 (1.46%)
   Check 2 Returns: $695,867 (1.17% ownership @ exit)

Company 14 - $50,839,715 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $14,358,462
Return: $2,726,642 (own at exit: 5.36%)
   Check 1: $375,000 @ $8,500,000 (4.41%)
   Check 1 Returns: $1,435,474 (2.82% ownership @ exit)
   Check 2: $714,286 @ $22,500,000 (3.17%)
   Check 2 Returns: $1,291,167 (2.54% ownership @ exit)

Company 9 - $45,740,152 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $5,298,516
Return: $6,150,520 (own at exit: 13.45%)
   Check 1: $375,000 @ $2,000,000 (18.75%)
   Check 1 Returns: $5,488,818 (12% ownership @ exit)
   Check 2: $714,286 @ $39,500,000 (1.81%)
   Check 2 Returns: $661,702 (1.45% ownership @ exit)

Company 35 - $44,699,116 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $16,189,573
Return: $2,070,755 (own at exit: 4.63%)
   Check 1: $375,000 @ $8,000,000 (4.69%)
   Check 1 Returns: $1,340,973 (3% ownership @ exit)
   Check 2: $714,286 @ $35,000,000 (2.04%)
   Check 2 Returns: $729,781 (1.63% ownership @ exit)

Company 5 - $44,200,665 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $18,514,663
Return: $1,883,943 (own at exit: 4.26%)
   Check 1: $375,000 @ $13,500,000 (2.78%)
   Check 1 Returns: $785,789 (1.78% ownership @ exit)
   Check 2: $714,286 @ $23,000,000 (3.11%)
   Check 2 Returns: $1,098,153 (2.48% ownership @ exit)

Company 15 - $40,963,450 exit after 3 rounds
Invested: $1,089,286
Blended Cost Basis: $13,867,178
Return: $2,164,553 (own at exit: 5.28%)
   Check 1: $375,000 @ $6,000,000 (6.25%)
   Check 1 Returns: $1,638,537 (4% ownership @ exit)
   Check 2: $714,286 @ $44,500,000 (1.61%)
   Check 2 Returns: $526,015 (1.28% ownership @ exit)

Company 0 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $12,000,000
Return: $0 (own at exit: 3.12%)
   Check 1: $375,000 @ $12,000,000 (3.12%)
   Check 1 Returns: $0 (3.12% ownership @ exit)

Company 1 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 25%)
   Check 1: $375,000 @ $1,500,000 (25%)
   Check 1 Returns: $0 (25% ownership @ exit)

Company 3 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $375,000 @ $10,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 4 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 15%)
   Check 1: $375,000 @ $2,500,000 (15%)
   Check 1 Returns: $0 (15% ownership @ exit)

Company 6 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 5.36%)
   Check 1: $375,000 @ $7,000,000 (5.36%)
   Check 1 Returns: $0 (5.36% ownership @ exit)

Company 7 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 5%)
   Check 1: $375,000 @ $7,500,000 (5%)
   Check 1 Returns: $0 (5% ownership @ exit)

Company 8 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 15%)
   Check 1: $375,000 @ $2,500,000 (15%)
   Check 1 Returns: $0 (15% ownership @ exit)

Company 10 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 3.41%)
   Check 1: $375,000 @ $11,000,000 (3.41%)
   Check 1 Returns: $0 (3.41% ownership @ exit)

Company 11 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.41%)
   Check 1: $375,000 @ $8,500,000 (4.41%)
   Check 1 Returns: $0 (4.41% ownership @ exit)

Company 12 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 15%)
   Check 1: $375,000 @ $2,500,000 (15%)
   Check 1 Returns: $0 (15% ownership @ exit)

Company 16 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $5,000,000
Return: $0 (own at exit: 7.5%)
   Check 1: $375,000 @ $5,000,000 (7.5%)
   Check 1 Returns: $0 (7.5% ownership @ exit)

Company 17 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 18 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $10,500,000
Return: $0 (own at exit: 3.57%)
   Check 1: $375,000 @ $10,500,000 (3.57%)
   Check 1 Returns: $0 (3.57% ownership @ exit)

Company 19 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 5.77%)
   Check 1: $375,000 @ $6,500,000 (5.77%)
   Check 1 Returns: $0 (5.77% ownership @ exit)

Company 20 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 5.77%)
   Check 1: $375,000 @ $6,500,000 (5.77%)
   Check 1 Returns: $0 (5.77% ownership @ exit)

Company 22 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $9,000,000
Return: $0 (own at exit: 4.17%)
   Check 1: $375,000 @ $9,000,000 (4.17%)
   Check 1 Returns: $0 (4.17% ownership @ exit)

Company 23 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,500,000
Return: $0 (own at exit: 15%)
   Check 1: $375,000 @ $2,500,000 (15%)
   Check 1 Returns: $0 (15% ownership @ exit)

Company 24 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $5,500,000
Return: $0 (own at exit: 6.82%)
   Check 1: $375,000 @ $5,500,000 (6.82%)
   Check 1 Returns: $0 (6.82% ownership @ exit)

Company 25 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $2,000,000
Return: $0 (own at exit: 18.75%)
   Check 1: $375,000 @ $2,000,000 (18.75%)
   Check 1 Returns: $0 (18.75% ownership @ exit)

Company 26 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $11,000,000
Return: $0 (own at exit: 3.41%)
   Check 1: $375,000 @ $11,000,000 (3.41%)
   Check 1 Returns: $0 (3.41% ownership @ exit)

Company 27 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $6,500,000
Return: $0 (own at exit: 5.77%)
   Check 1: $375,000 @ $6,500,000 (5.77%)
   Check 1 Returns: $0 (5.77% ownership @ exit)

Company 28 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 25%)
   Check 1: $375,000 @ $1,500,000 (25%)
   Check 1 Returns: $0 (25% ownership @ exit)

Company 29 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $7,000,000
Return: $0 (own at exit: 5.36%)
   Check 1: $375,000 @ $7,000,000 (5.36%)
   Check 1 Returns: $0 (5.36% ownership @ exit)

Company 31 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $8,500,000
Return: $0 (own at exit: 4.41%)
   Check 1: $375,000 @ $8,500,000 (4.41%)
   Check 1 Returns: $0 (4.41% ownership @ exit)

Company 32 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $15,000,000
Return: $0 (own at exit: 2.5%)
   Check 1: $375,000 @ $15,000,000 (2.5%)
   Check 1 Returns: $0 (2.5% ownership @ exit)

Company 33 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $13,500,000
Return: $0 (own at exit: 2.78%)
   Check 1: $375,000 @ $13,500,000 (2.78%)
   Check 1 Returns: $0 (2.78% ownership @ exit)

Company 34 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $10,000,000
Return: $0 (own at exit: 3.75%)
   Check 1: $375,000 @ $10,000,000 (3.75%)
   Check 1 Returns: $0 (3.75% ownership @ exit)

Company 36 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $1,500,000
Return: $0 (own at exit: 25%)
   Check 1: $375,000 @ $1,500,000 (25%)
   Check 1 Returns: $0 (25% ownership @ exit)

Company 38 - $0 exit after 1 rounds
Invested: $375,000
Blended Cost Basis: $7,500,000
Return: $0 (own at exit: 5%)
   Check 1: $375,000 @ $7,500,000 (5%)
   Check 1 Returns: $0 (5% 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
50%
Follow-on rate
50%
Follow-on Picking
Perfect 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

Fork of IBEX Early Stage Equity Fund

Portfolio Size
40
Initial Ownership
9.22%
Terminal Ownership
12.25%
Median TVPI
2.29
Chance of 3x
28.4%
Blended Cost Basis
$10M