Private equity question please explain work

Suppose aVC opportunity requires $1.5 million to bring the company to protability in five years. If the estimated value of the company is $20 million at that point, what ownership percentage will the VC require if their target return is 40%? Suppose in the prior example, that the VC firm believes that additional capital will need to be raised in two years to fund the plan, and that the future investment will require 20% of the company. Now how much of the company will the VC firm require initially