1. A VC earns a $100m in carry after delivering a 2.33x Net Return Multiple on their $310m Fund. The Fund has only one profitable exit.

a. Roughly how much did this VC distribute to LPs (in $s)?

b. Roughly what GRM did this Fund have?

c. Roughly how many portfolio companies did this fund invest in?

d. Roughly how much did the fund initially invest in each of its portfolio companies ($s)? You can give a range but also pick a single number for the rest of the problem.

e. Roughly how much do you expect the fund to initially own (%) in these portfolio companies? You can give a range but also pick a single number for the rest of the problem.

f. What was the initial valuation at which the Fund invested? Assume this Fund was the only investor in the round.

g. Assuming 10% dilution over time, what was the exit value on the single winner?