XYZ Partners is raising their first fund, XYZ Partners Fund I, with $$100M$ in committed capital, annual

management fees of $2$ percent, carried interest of $20$ percent, and a carried interest basis of committed

capital. The four individuals on the XYZ team have previously managed the captive VC portfolio for the

Goldenbucks family. During the $10$ years of managing the Goldenbucks' VC portfolio, the partners did

not charge management fees or carried interest, and they achieved a GVM of $2\mathrm{.}5.$

Suppose that XYZ Fund I earn the same GVM as the partners earned for Goldenbucks. What would be

the value multiple be for the fund? Show your calculations.