Here's a list of posts and template models to use to model venture funds:
- How to Model a Venture Capital Fund. Post detailing how to model a venture capital fund, detailing all the components, methods, considerations, and links to template models to review, on OpenVC.
- Portfolio Construction for Dummies, by Hadley Harris (Eniac Ventures) Free Excel and Google Sheets Model and explanations on how to model a venture fund.
- Tactyc. Web app to build, manage and strategize venture portfolio models
- Venture Fund Model, by Craig Thomas. Free model in Causal for modeling portfolio construction.
- Open Source Venture Model (V1), by Sam Gerstenzang. Google Sheet, open source, helpful for understanding how follow-on dynamics work in modeling and planning for reserves.
- Airstream Alpha Fund Budget Template. Fund budget template from a fund CFO firm (submit email to access).
- Venture Capital Model, Overall Forecast, by Foresight. Free Google Sheet (can download to Excel) for forecasting a Simple, free model in Causal to show overall returns based on fund size, follow-on reserves, and fees.
- Venture Capital Model, Annual Forecast, by Foresight. Free Google Sheet (can download to Excel) and Causal model for forecasting a venture fund, including all fund performance metrics, showing annual cashflows over time.
- Venture Capital Model, Annual Forecast, Portfolio Model by Foresight. Free Google Sheet (can download to Excel) for forecasting a venture fund, including all fund performance metrics, showing annual cashflows over time, using a manual input method for creating a portfolio.
- Venture Capital Model, Annual Forecast, Detailed Portfolio Construction, by Foresight. $ Google Sheet or Excel model to use to forecast a venture fund, including all fund performance metrics, using annual cashflows over time and a detailed approach to portfolio construction.
- Venture Fund Model, Quarterly Forecast, by Foresight. $$ Excel and Google Sheets model to use in detailing cash flows and presenting to LPs in fundraising. Used by hundreds of emerging managers to raise funds. Includes financial statements for the fund, full forecast and statements for the management company, done on a quarterly timescale.
- Venture Fund Model, Quarterly, with Tracking by Foresight. $$$ Excel and Google Sheets model to use in detailing cash flows and presenting to LPs in fundraising. Used by hundreds of emerging managers to raise funds. Includes financial statements for the fund, full forecast and statements for the management company, done on a quarterly timescale. Adds in tracking to track actual investments, compare budgeted investment pacing and performance to actuals, and create rolling forecasts.
- Fund of Venture Funds. Free Google Sheet (can download to Excel) for modeling fund of funds, detailing new fund commitments and the resulting capital calls, investment schedules, and distributions of the funds invested in.
- Angel and Solo GP Portfolio Tracking, by Foresight. Free Google Sheet (can download to Excel) for angel investors to track and report performance metrics.
- Rolling Fund Template, by Foresight (with Angellist). Free Google Sheet (can download to Excel) for budgeting capital, fees and investments for Angellist rolling funds.
- Cap Table and Exit Waterfall Tool, by Foresight. Free Excel Model (can upload to Google Sheets) to create a cap table through multiple rounds of investments, and forecast how investment rounds impact ownership, dilution, valuations, and distribution of proceeds to entrepreneurs and investors through a detailed exit waterfall.
- VC Fund Performance Calculator, by Angellist. Percentile scores of venture funds across vintage years by combining performance data from hundreds of recent venture capital funds.
- Venture Fund Economics, by Fred Wilson of USV. An outline of fund economics, with examples based on Union Square Ventures (from 2008).
- Venture Capital Method (Valuation). Examples of how to use the Venture Capital Method for valuation, free Google Sheets.
- An LP take on VC portfolio construction covers how a limited partner thinks about portfolio construction.
- Pitchbook NVCA Venture Monitor, a report updated quarterly with the latest trends and figures in the venture capital industry
- CB Insights State of Venture research report, updated quarterly, with the latest metrics on the venture capital industry
More tools and resources for building financial models for venture capital funds.
To suggest additional resources, contact me →