Financial model template to forecast investments, proceeds, cash flows, and performance metrics for a venture investment strategy quarterly and annually for up to a twenty year period. Prebuilt fund financial statements, LP and GP economics, IRRs, multiples, and other key metrics. Used by venture capitalists, accelerators, and angel investors. Used by investors using equity, convertibles, revenue sharing. Track your existing investments against your forecast and optionally recast based on your actuals to-date.
Quarterly forecast of a venture capital fund, calculating fund cash flows, investments, proceeds, distributions to limited partners, and all typical fund performance metrics, including Gross/Net Multiple and Gross/Net IRR, Interim IRR, RVPI, DPI, TVPI.
Uses an assumption of average investment, expands on the portfolio construction method used in the annual models to model expected graduation rates, follow-ons, proratas, increases in valuations, ownership and dilution, and proceeds per exit and per stage. This creates the detailed logic behind how an investment strategy generates returns, and analyzes the expected value per investment stage based on entry and exit valuations and exit rates per stage.
Builds on the a href="/venture-fund-model/">Venture Investor Model and the a href="/venture-portfolio-model/">Angel and Venture Fund Portfolio Tracking model to allow investors to track actual investments, performance to-date, and compare performance (and most importantly, budgeting for investment pacing) to operate a fund.
Background to the portfolio construction method at How to Model a Venture Capital Fund
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I offer a range of models for venture capital funds. All share the same stucture for reporting cash flows and fund performance metrics, but have a couple key differentiations.
Portfolio construction is the process of creating your portfolio strategy, check sizes, follow on reserves, and expectations around valuations, ownership, and dilution over time. In fund models, portfolio construction drives the logic used to budget for the deployment of capital (e.g. new, follow) and forecast proceeds from investments, both in terms of timing and how much.
The primary differentiation between the models is how the logic for portfolio construction works, and it essentially ranges from simple to more complicated:
Background on portfolio construction and how to choose which is best for you at How to Model a Venture Capital Fund
For tracking a portfolio, the free Angel and Venture Fund Portfolio Tracking offers an easy way for investors to track their portfolio, and the paid Venture Investor Model with Actuals Tracking layers the Venture Investor Model forecast and the tracking model to allow investors to create forecasts, track performance, and compare performance (and most importantly, budgeting for investment pacing) to operate a fund.
The paid models, the Venture Investor Model and Venture Investor Model with Actuals Tracking create quarterly forecasts that are summed into annual forecasts, all free models create annual forecasts, except for the Overall Forecast variants, which do not forecast cash flows over time (only totals).
Financial statements - statement of operations (e.g. income statement), statement of financial condition (e.g. balance sheet), and statement of cash flows are only prebuilt in the paid models, the Venture Investor Model and Venture Investor Model with Actuals Tracking.
Background on those terms at How to Model a Venture Capital Fund
Live masterclass for founders, investors, and lawyers to learn the structures and math for building cap tables and exit waterfalls.
Join the masterclass for 4 live, 1.5 hour sessions to learn the terms, math, and important insights about how equity, convertible notes, SAFEs, and option pools impact cap tables, dilution, and ownership.
Taylor Davidson, Founder, Foresight
I created the financial models behind Foresight so early-stage entrepreneurs can spend less time on finance and more time on their products. I care about financial modeling because I believe that financial models can help us make critical business decisions even if the models themselves are not “always right”. Financial models can help even the earliest entrepreneurs if we build “minimum viable models” to focus on the decisions that matter most.
You will have the option to download a Microsoft Excel .xlsx file and copy a Google Sheet file immediately after purchase or submission or your email, and anytime through the link in your email receipt, as well as by logging into my transaction provider at Gumroad and creating an account.
Foresight's spreadsheet models can be used in both Excel and Google Sheets interchangeably; simply upload the Microsoft Excel model template from Foresight into Google Sheets, or download the Google Sheets to Excel, and everything will structurally work fine.
The models are originally built in Google Sheets, and the formatting is a bit better in Google Sheets; in Excel you may want to adjust the row spacing, fonts, and chart formatting to get the aesthetics you want.
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