Carry & Fee Calculator
Model VC fund economics — 2% management fees with a post-investment-period step-down, 20% carried interest, and the gross-to-net gap LPs actually receive.
Assumptions
Results
Gross proceeds
$300M
Total profit
$200M
Mgmt fees (life)
$17.5M
Investable capital
$82.5M
GP carried interest
$40M
LP net TVPI
2.60x
Simplified whole-fund carry with no preferred return — the VC standard. Step-down fee shown on committed capital; many LPAs switch to invested capital after the investment period. Illustration only.