Gross TVPI

IRR: What Internal Rate of Return Means in Venture Capital

IRR (Internal Rate of Return) is how venture capitalists measure the time-adjusted performance of their investments. Here's what it means, how it's calculated, why timing matters, and what good IRR looks like for a VC fund.

LP Reporting Best Practices: Quarterly Reports That Build Trust

How to write LP quarterly reports that build trust and keep your investors informed. Templates, metrics to include, and the cadence top GPs follow.

The Math Behind VC Returns: From Entry to Exit

From entry valuation to exit proceeds, this breakdown covers the full math behind VC returns — including dilution, MOIC, IRR, carry, and the metrics LPs actually use to evaluate fund performance.

Zombie Funds and Wind-Down: What Happens When a VC Fund Underperforms

Zombie VC funds trap LP capital for years with no path to returns. Here's how they form, what LPs can do, and what a fund wind-down actually looks like.

Building a GP-LP Reporting Framework That Keeps Your Investors Happy

Your LP report is your most important marketing document. Here's how to build a reporting framework that builds trust, reduces questions, and makes re-ups easier.

The LP Decision Tree: How Institutional Allocators Evaluate Fund I Managers

Institutional LPs use a structured decision framework to evaluate emerging managers. Understanding their internal process gives you an unfair advantage in fundraising.