Suppose that a $1B VC fund has fees of 2.0 percent per year in all years, with
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Suppose that a $1B VC fund has fees of 2.0 percent per year in all years, with these fees paid on committed capital in the first five years and on net invested capital for years 6 through 10. You can assume the fund is fully invested by the beginning of year 6, then realizes 20 percent of its investment capital in each of the following five years. What are the lifetime fees and investment capital for this fund?
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Related Book For 
Venture capital and the finance of innovation
ISBN: 978-0470454701
2nd Edition
Authors: Andrew Metrick
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