Venture Deal Math Dashboards

How to use this app

Pick one dashboard, edit assumptions, read the outputs, then export the current tab when you need a memo-ready snapshot.

Each dashboard is separate.

1. Secondary Deals

Use this when buying or arranging a secondary/SPV position. It compares two fee structures, checks premium/discount versus a round price, allocates fees by payer, and computes dated cash-flow XIRR.

Best for secondaries, SPVs, tender access, pre-IPO blocks, and fee-stack comparisons.
Key outputs: total fees, net proceeds, net multiple, XIRR, payer burden, premium/discount.
Watch-outs: wrong fee allocation totals, stale round price, unrealistic hold period, and SPV overhead eating return.

2. Primary Deals

Use this for new primary rounds: pre-seed, seed, and Series A. It models valuation, ownership, option-pool expansion, pro-rata needs, liquidation preference behavior, dilution, and exit-return sensitivity.

Best for deciding whether a priced round or SAFE-like deal is directionally attractive.
Key outputs: ownership, round dilution, price discipline, reserve need, preference breakpoint, exit MOIC, implied fund-return contribution.
Watch-outs: small ownership with big check, too much dilution, investor-unfriendly terms, no pro-rata rights, and high exit requirement.

3. Fund Math

Use this before pitching LPs or changing strategy. It converts fund size into management fees, investable capital, initial checks, reserves, ownership targets, stage allocation, follow-on budget, and required power-law outcomes.

Best for emerging managers building or defending portfolio construction.
Key outputs: number of investments by stage, check sizing, reserve ratio, fees, GP commit, deployment pace, gross/net TVPI, DPI placeholder, and winner requirement.
Watch-outs: under-reserving, too many tiny checks, ownership too low to return the fund, fees too low to operate, and a target TVPI that requires fantasy exits.

Operating rules

The math is intentionally fast and practical, not a substitute for legal, tax, accounting, or investment diligence.

Editable boxes everywhere Saved values per dashboard Baseline reset per dashboard CSV export per dashboard Print/PDF friendly

Action	What it does
Reset current tab to saved values	Loads the latest values stored in this browser for the active dashboard only.
Reset current tab to app baseline	Restores practical default assumptions for the active dashboard only and saves them.
Clear current tab	Blanks the active dashboard so you can start from scratch.
Export current tab CSV	Exports input and output rows for the active dashboard only.

Secondary deal inputs

Every field is editable. Change anything and the outputs update immediately.

Deal size ($) Base purchase price ($) Capital invested ($) Entry date Exit date Hold period (years, fallback) Expected exit multiple (x) SPV life (years) Carry hurdle basis

Fee-stack comparisonPremium / discount checkerDated XIRRPayer burden

Current saved values

Reset loads these browser-saved values for this tab.

Structure comparison

Model two fee stacks side by side.

Structure A

LabelUpfront fee (% of deal size)Management fee (% annual)Carry (% of profit)Preferred return / hurdle (% annual)

Structure B

LabelUpfront fee (% of deal size)Management fee (% annual)Carry (% of profit)Preferred return / hurdle (% annual)

SPV overhead

Direct cost assumptions for the vehicle.

Legal setup cost ($)Annual compliance / admin ($)Annual audit / tax ($)

Round vs secondary pricing

Check whether the trade is at a premium or discount.

Primary / round priceSecondary market price

Premium / discount

Classification

Fee allocation splits

How the cost burden is allocated across investor, sponsor, and client.

Fee bucket

Investor %

Sponsor %

Client %

Total

Upfront fee

Management fee

Carry

Legal

Ongoing admin / audit / tax

Dated cash flows

Add interim distributions or reimbursements. XIRR recalculates automatically.

Date	Description	Amount ($)	Action

Structure economics

Lower cost is better for fees. Higher proceeds, multiple, and XIRR are better.

Metric			Winner

Payer burden

Total dollars by payer under each structure.

Payer

XIRR summary

Dated-cash-flow investor return approximation.

Metric

Primary round inputs

Fast pre-seed, seed, and Series A deal math. Editable assumptions, instant outputs.

Company / deal name Stage Instrument Your check size ($) Total round size ($) Priced pre-money / next round pre-money ($) SAFE / note valuation cap ($) SAFE / note discount (%) Note interest (% annual) Expected conversion / next round timing (years) Target ownership (% post) Current option pool (% FD) Required post-close option pool (% FD) Expected exit value ($) Expected hold period (years) Expected future dilution before exit (%)

Ownership mathDilution warningsTerm-sheet economicsReserve need

Deal decision signal

Directional verdict from the inputs.

Overall signal

Score

Main reason

Terms and sponsor economics

Persisted boxes from the secondary dashboard where they make sense: fees, carry, hurdle, allocation mindset, and dated economics.

Investment fee / setup fee (% of check) Annual management / monitoring fee (% of check) Carry / promote (% of profit) Preferred return / hurdle (% annual) Carry hurdle basis Liquidation preference multiple (x) Preference type Pro-rata rights? Follow-on reserve for this company ($) Fund size / vehicle size for contribution test ($)

Valuation and ownership

What the instrument buys.

Post / conversion valuation

Effective conversion valuation

Your ownership basis

Your post-round ownership

Total new investor dilution

Option pool increase

Ownership after future dilution

Return math

What the deal needs to matter.

Gross exit proceeds

Net exit proceeds after fees/carry

Net MOIC

Approx. annualized return

Fund return contribution

Term-sheet stress checks

Plain-English flags that matter in early-stage deals.

Check	Result	Read

Pro-rata / reserve need

Simple follow-on planning for ownership defense.

Next round assumed size

Capital needed to hold ownership

Reserve coverage

Primary deal memo rows

Copy these into your IC note.

Memo item	Output

Fund-level inputs

Emerging-manager construction math LPs will dig into: fund size, fees, GP commit, investable capital, deployment, reserves, ownership, and return power law.

Fund name Fund size / commitments ($) GP commit (% of fund) Management fee (% annual) Fee period (years) Fund expenses / org costs (% of fund) Target gross TVPI (x) Target net TVPI (x) Target DPI / cash returned by harvest (x) Carry (% of profits) Preferred return / hurdle (% annual) Deployment period (years) Average follow-on round size ($)

LP-readiness signal

Construction sanity check.

Overall signal

Score

Main reason

Stage allocation and check sizing

Edit each stage. Percentages should total 100%. This is intentionally separate from the Primary Deals calculator.

Stage	Capital allocation %	Initial check ($)	Target ownership %	Reserve ratio (follow-on / initial)	Expected graduation %	Calculated companies
Pre-seed
Seed
Series A

Capital budget

What is actually available to invest.

Total management fees

Fund expenses / org costs

Investable capital

GP commit dollars

Portfolio construction

Companies, reserves, graduation, and deployment pressure.

Total initial checks

Total follow-on reserves

Modeled pro-rata reserve need

Reserve coverage vs need

Expected follow-on companies

Total companies

New deals per year

Average initial ownership

Return requirement

The LP question: what has to happen for this fund to work?

Gross value needed

Net value target

DPI cash target

Single winner exit value needed

Winner ownership assumption

MOIC on investable capital

LP diligence checks

Questions LPs will ask before they believe the strategy.

Check	Result	Read

Fund memo rows

Copy these into a deck, IC memo, or LP data room note.

Memo item	Output

Venture Deal Math Dashboards Report

How to use this app

1. Secondary Deals

2. Primary Deals

3. Fund Math

Operating rules

Secondary deal inputs

Current saved values

Structure comparison

Structure A

Structure B

SPV overhead

Round vs secondary pricing

Fee allocation splits

Dated cash flows

Structure economics

Payer burden

XIRR summary

Primary round inputs

Deal decision signal

Terms and sponsor economics

Valuation and ownership

Return math

Term-sheet stress checks

Pro-rata / reserve need

Primary deal memo rows

Fund-level inputs

LP-readiness signal

Stage allocation and check sizing

Capital budget

Portfolio construction

Return requirement

LP diligence checks

Fund memo rows