VC Fund Mark & DPI Waterfall Explorer

Waterfall Parameters

Structure

GP Carried Interest Rate 20%

LP Preferred Hurdle Rate 8%

Fund Age (Years deployed) 4.0 yrs

1. OpenAI Stake ($130M cost) $2,100M

2. SpaceX Stake ($110M cost) $1,250M

3. Core Basket ($224.4M cost) $350M

4. Mgmt Fees & Res ($51.6M) $0M (Expensed)

Fund Committed: $516.0M | Invested Capital: $464.4M

Secondary / Liquidity Haircut 0%

Gross Portfolio NAV $3,700.0M 7.27x Gross MOIC

          Fund Net TVPI
          5.94x
          Total Value / $516M
        

          Net LP Proceeds
          $3,063.2M
          56.2% Net IRR
        

          Est. GP Carry Pool
          $636.8M
          17.2% of Gross Mark
        

D3 Real-Time Capital Allocation

Waterfall Tier	Priority Target	Distributable Pool	LP Received	GP Carried Int.	Cumulative LP