Hi All

I have a finance question that i need assistance with

When does a VC earn its carry? The VC earns its carry as a management fee on committed investment amounts The VC earns its carry as a management fee on invested amounts The VC earns its carry at the time the fund exits as a percentage of the fund exit value The VC earns its carry as a percentage of the fund exit value after returning investors' principal + hurdle rate (if any)