Question: A VC with $100 million committed capital is structured as 2% fees and 20% carry based on committed capital. The first exit of a portfolio

A VC with $100 million committed capital is structured as 2% fees and 20% carry based on committed capital. The first exit of a portfolio company with the VCs investment of $10 million has happened with $50 million in the 5th year from the vintage year of the VC fund. How would this $50 million be divided between GPs and LPs in a deal-by-deal carry structure?

GPs share = $0, LPs share = $50

GPs share = $50, LPs share = $0

GPs share = $42.5, LPs share = $7.5

GPs share = $7.5, LPs share = $42.5

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