#271: VC Fund Math: “Maximum Convexity” = 5-10x Funds 🚀
2x+ funds are fine for mega-VCs.
A $1b fund → $2b exit → $1b profit → $200m carry @ 20%. ✅Most emerging managers are playing a different game, targeting 5-10x+ funds at the earliest stages of the market.
Bottom line: what’s the math behind 5-10x+? More below
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