Net TVPI

Venture Capital KPIs: 20 Metrics Every GP Should Track

Most GPs are flying blind. Here are the 20 VC KPIs that separate disciplined fund managers from everyone else — with benchmarks, formulas, and why each one matters.

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.

TVPI: What Total Value to Paid-In Means in Venture Capital

TVPI (Total Value to Paid-In) is the primary fund performance metric used by LPs and VCs to measure total return — both realized and unrealized — relative to capital invested. Here's what it means, how it's calculated, and what benchmarks matter.

Venture Capital Fund Administration: What It Is, Who Does It, and Why It Matters

Fund administration is the operational backbone of every venture fund — handling NAV calculations, capital calls, LP reporting, K-1s, and compliance. Here's what emerging managers need to know before they raise.

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.