A VC fund has raised $120M in committed capital. The lifetime annual management fee is 2% and the carried interest 20% on the basis of committed capital. When the fund is dissolved, the GVM is found to be 3.0. Calculate the VM and GP% of the fund. Assuming the cost of capital for the period is 15%, comment on the performance of the fund. A VC fund has raised $120M in committed capital. The lifetime annual management fee is 2% and the carried interest 20% on the basis of committed capital. When the fund is dissolved, the GVM is found to be 3.0. Calculate the VM and GP% of the fund. Assuming the cost of capital for the period is 15%, comment on the performance of the fund