The VC fund you manage invested m€1 in firm F in exchange for 200,000 shares.The total number number of shares before this financing round was 1,000,000.

(a) 3 years later the next financing round happens in which another fund invests m€2 in exchange for 100,000 newly issued shares. 

Give an estimate of the yearly return on your initial investment at that point.

(b) 6 years later, the firm goes public by issuing 200,000 new stocks at €50 per stock. 

Give an estimate of the yearly return on your initial investment at that point.