Understanding investment metrics and how they're calculated in Visible
Fund-level investment metric definitions
Fund-level investment metrics are calculated across all portfolio companies in a specific fund.
Auto-calculated fund-level investment metrics include:
- Total invested = Sum of amount invested across all rounds
- Total number of investments = Sum of unique portfolio companies where there is at least one investment
- Average investment amount = Total invested / total number of investments
- Capital remaining = Fund size - total invested - management fees - expenses
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New capital deployed = Sum of amount invested for initial investment rounds
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Follow on capital deployed = Sum of round sizes after initial investment
- Follow on capital raised = Sum of round sizes after initial investment
- Total portfolio company capital raised = Sum of round sizes
- Total number of exits = Sum of unique portfolio companies where there is at least one exit
- Multiple = FMV / total invested
- FMV (Fair Market Value)= Sum of most recent FMV values
- Realized FMV = Sum of amount exited
- Unrealized FMV = FMV - realized FMV
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Gross DPI (Distribution to Paid-in Capital) = Realized FMV / total capital called
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Gross RVPI (Residual Value to Paid in) = Unrealized FMV / total capital called
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Gross TVPI (Total Value to Paid in) = DPI + RVPI
- Gross IRR = computed using sum of amount invested across all companies (outflows), sum of exits and unrealized company FMVs across all companies (inflows)
- Net IRR = computed using Capital Calls, Management Fees, Fund Expenses, Carried Interest (outflows), distributions and unrealized company FMVs (inflows)
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Total capital called = Sum of capital called
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Uncalled capital = Fund size - total capital called
- % of Fund Deployed = Total invested / total fund size
- % of Fund Called = Total capital called / total fund size
Company-level investment metric definitions
Company-level investment metric definitions are calculated for a single portfolio company in a specific fund.
Auto-calculated company-level investment metrics include:
- Total capital raised = Sum of round sizes
- Follow on capital raised = Sum of round sizes after initial investment date
- Total invested = Sum of amount invested across all rounds
- FMV = Sum of most recent FMV values
- Realized FMV = Sum of amount exited
- Unrealized FMV = FMV - realized FMV
- Ownership % = Sum of shares purchased / total shares outstanding from latest round
- Total gain/loss = Realized gain/loss + unrealized gain/loss
- Realized gain/loss = Realized FMV - total amount invested in investments exited
- Unrealized gain/loss = Unrealized FMV - total amount invested in investments not exited
- IRR = computed using total amount invested (outflows), exits and unrealized FMVs (inflows)