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Let's say a VC Fund manager starts a VC Fund as a general partner and contributes $1M. He raises $1M each from 9 limited partners

  1. Let's say a VC Fund manager starts a VC Fund as a general partner and contributes $1M. He raises $1M each from 9 limited partners (LP 1 thru LP9). He makes 10 investments into 10 firms (Firm A thru Firm J). In 4, (Firm A thru Firm D), they invest $500k, in 4 (Firm E thru Firm H) they invest $1M and in Firm I and J they invest $2M. Assume after 9 years (in Dec 2020) the VC fund exited all positions and the combined payoffs returned 200%. Let's say the GPs collect 2% annually of each LPs ORIGINAL and 20% of the gains. The after fee ANNUAL return for each LP is ______% (Round to the nearest 10th of a percent, write as A.B, no percent sign or fraction)

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