TVPI

Total value to paid-in capital: cash returned plus remaining holdings, over what LPs put in.

Also called Total value to paid-in capital

TVPI in round numbers

Fund III shows a 2.1x TVPI in year six, meaning cash returned plus the value of what it still owns equals 2.1 times what LPs put in. Hanil Widget Works itself carries no TVPI line since TVPI is measured at the fund level across all its deals.

Paper plus cash, per dollar in
first2.10
÷1.00
=2.10x

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