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You are given the following information about a new venture capital fund that is forming: ( a ) Committed capital = $ 9 0 0

You are given the following information about a new venture capital fund that is forming: (a) Committed capital =$900 million; (b) Management fee: 2.0% of committed capital; (c) carried interest rate: 2.0%, so limited partners' share of profits =80%, general partner's share =20%; (d) one-third of capital ($300 million) is called after the fund closes, and another one-third is called after year 1(beginning year 2). if the value of investments made by the VC fund's managers increases by $60 million in year 1 and by $80 million in year 2, but none of the investments are realized (sold), calculate the following: (a) Cumulative invested capital at inception (end of year 0); (b) Fund net asset value, end of year 1; (c) Cumulative invested capital at end of year 1(beginning of year 2)

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