Question
Sun Ventures II is a 10-year VC fund with committed capital of $150M, annual management fee level of 2%, and fee basis of committed capital.
Sun Ventures II is a 10-year VC fund with committed capital of $150M, annual management fee level of 2%, and fee basis of committed capital. Suppose it made investments totaling $15M in Year 1, $20M in Year 2, and $25M in Year 3. Assume all investments/exits/fee payments are made on the first day of each year.
What is its contributed capital as of the end of Year 3?
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
