Early Bird Ventures III is a $100 million VC fund with 2% management fees on committed capital and 20% carry after return of committed capital.

It invested $80 million in investment capital, and after 10 years of fund life had cumulative exit values of $160 million and no remaining investments.

What is its gross value multiple at the end of Year 10?
What is its value multiple at the end of Year 10? (To answer this, you need to figure out the amount of carried interest that GPs of the fund received.)
What is GP% at the end of Year 10?

Answer rating: 100% (QA)

The gross value multiple GVM is a measure of the total value of the funds investments relative to th... View the full answer