| | | | | | . | Hypothetical Venture Capital Fund | | | | | . | | | | | | . | Fund Size ($m) | | 100.00 | | | . | Management Fee (%) | | 2.00% | | | . | Management Carry (%) | | 20.00% | | | . | Fund Life (years) | | 10.00 | | | . | | | | | | . | Total Management Fee | | 20.00 | | | . | Funds Left to Invest | | 80.00 | | | . | | | | | | . | | | Deals (#) | Return (x) [1] | | . | Winners | | 2.00 | 10.00 | | . | Even | | 5.00 | 1.00 | | . | Losers | | 3.00 | 0.00 | | . | Total Deals | | 10.00 | | | . | | | | | | . | Investment Per Deal | | 8.00 [2] | | | . | | | | | | . | Outcomes | Year | Cash Out | Cash In | Cash Flow | . | | 1 | (8.00) | | (8.00) |
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| | | | | | . | | 2 | (16.00) | | (16.00) | . | | 3 | (24.00) | | (24.00) | . | | 4 | (16.00) | | (16.00) | . | | 5 | (16.00) | | (16.00) | . | 1 Win | 6 | | 80.00 | 80.00 | . | 2 Even | 7 | | 16.00 | 16.00 | . | 2 Even, 1 Win | 8 | | 96.00 | 96.00 | . | 2 Losers | 9 | | 0.00 | 0.00 | . | 1 Even, 1 Loser | 10 | | 8.00 | 8.00 | . | Fund IRR | | | | 25.42% | . | | | | | | . | Total Cash Returned | | | | 200.00 | . | Less Investment | | | | (100.00) | . | Available To Distribute | | | | 100.00 | . | | | | | | . | Amount to Managers (GP) | | | 20.00% | 20.00 | . | Amount to Investors (LP) | | | 80.00% | 80.00 |
[1] For example, if you invest 2m, you get back 20m under 10x
[2] Cash available to invest divided by # of deals
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