a. How large should a VC fund (10 years) be if there are 8 GPs each investing an average of $15M into 6 startups and we ADD a 2% management fee for the entire life of the fund so that our investable amount is the same in our previous answer

b. What if instead, we DEDUCTED the 2% each year from original base fund amount. What we be our investable amount?

c. What if instead we DEDUCTED 2% in years 1 5 and 1% in years 6 10 from the original base fund. What we be our investable amount now?