Investor Tools
Portfolio construction model
Size a fund from the bottom up: how many companies, at what cheque, how much to hold back for follow-ons, and what the graduation and exit assumptions do to the return. The same model GPStack firms use — free, and nothing to sign up for.
Fund terms
Entry strategy
Entry ownership 7.5% · $3.00M per company
Entry ownership 5.0% · $1.00M per company
Stage assumptions
Defaults are industry approximations. Replace them with your firm's own graduation and exit assumptions.
| Stage | Round | Post-money | Grad | Exit | Fail |
|---|---|---|---|---|---|
| Pre-seed | M | M | % | % | 42.0% |
| Seed | M | M | % | % | 48.0% |
| Series A | M | M | % | % | 33.0% |
| Series B | M | M | % | % | 27.0% |
| Series C | M | M | % | % | 25.0% |
| Series D+ | M | M | % | % | 15.0% |
Recycling
Monte Carlo
Investable capital
$44.5M
after $8.50M fees
Companies
19
Gross MOIC
4.97x
Net TVPI
3.32x
Net multiple on committed
2.69x
Net IRR
14.5%
Gross needed for 3.00x net
$175.0M
Undeployed capital
$12.3M
over-reserved
Reserve analysis
$12.3M of investable capital is neither deployed nor expected to be called as follow-on. Lower the reserve ratio, add follow-on rounds, or write larger initial cheques.
LP cash flow
- Investments
- Distributions
- Fees
- Expenses
- Carry
- Recycled
Annual, by component
Cumulative net to LPs — above water in year 12
Some proceeds arrive after the 10-year term. Extensions are not modelled — treat those years as an indication, not a plan.
Seed cohort
| Stage | P(reach) | Ownership | Follow-on | Post-money | Yrs | Exit to 1x fund | Exit for 3.00x |
|---|---|---|---|---|---|---|---|
| Seed | 100.0% | 7.5% | — | $20.0M | 0 | $666.7M | $2.33B |
| Series A | 45.0% | 7.1% | $855K | $60.0M | 2 | $701.8M | $2.46B |
| Series B | 24.8% | 6.8% | $2.05M | $160.0M | 4 | $731.0M | $2.56B |
| Series C | 13.6% | 5.6% | — | $400.0M | 6 | $886.6M | $3.10B |
| Series D+ | 6.8% | 5.0% | — | $1.00B | 8 | $1.01B | $3.52B |
Pre-seed cohort
| Stage | P(reach) | Ownership | Follow-on | Post-money | Yrs | Exit to 1x fund | Exit for 3.00x |
|---|---|---|---|---|---|---|---|
| Pre-seed | 100.0% | 5.0% | — | $10.0M | 0 | $1.00B | $3.50B |
| Seed | 55.0% | 4.8% | $190K | $20.0M | 1.5 | $1.05B | $3.68B |
| Series A | 24.8% | 4.5% | $542K | $60.0M | 3.5 | $1.11B | $3.88B |
| Series B | 13.6% | 3.5% | — | $160.0M | 5.5 | $1.42B | $4.97B |
| Series C | 7.5% | 2.9% | — | $400.0M | 7.5 | $1.72B | $6.03B |
| Series D+ | 3.7% | 2.6% | — | $1.00B | 9.5 | $1.95B | $6.84B |
Monte Carlo
Run the simulation to see the distribution of outcomes.
Work here isn't saved
Reloading this page resets the model. Inside GPStack you can name scenarios, keep their version history, and compare a plan against what the fund has actually done.