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# Auto-calculated fund and company investment metric definitions

## 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
• New capital deployed = Sum of amount invested for initial investment rounds

• 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
• Gross DPI (Distribution to Paid-in Capital) = Realized FMV / total capital called

• Gross RVPI (Residual Value to Paid in)  = Unrealized FMV / total capital called

• 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)
• Total capital called = Sum of capital called

• 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)
To learn more about how to get started use Visible investment features, check out How to track investment rounds and How to set up investment Funds.