AUTO Calculator and Exit Diagram Tool [show/hide]

AUTO Calculator calculates the division of the company value between founders and each round of VC investors. If you enter the VC fund information, AUTO Calculator further calculates the division of the round's value between the fund mangers (GP) and the investors (LP). Finally, AUTO Calculator seeks and finds an implied valuation of the company. For details on how to use this tool, see Chapters 13-17 of the book.

Exit Diagram Tool (new in the web-version of VCV) translates the term sheet information you enter into fully specified exit payoff schedules for founders and each round of VC investors. Great for quickly visualizing how a given exit value is split between all related parties. For more details, see Chapter 8, 13-18 of the book.

Some of the inputs for AUTO Calculator and Exit Diagram are shared (labeled Exit Diagram Inputs); others are used only in AUTO (labeled as AUTO inputs).

To analyze the value of a later round investment (e.g., Series C), you need to enter information about all the previous rounds (i.e., Series A and B).

To select a series, click on the alphabet indicating the series (e.g., "A") and enter inputs. To un-select a series, click on the series alphabet letter again.

EXIT DIAGRAM INPUTS:[show/hide]

A B C D E F G H
ON/OFF
Security Type Security types are abbreviated as follows:
  • C = Common Stock
  • CP = Convertable Preferred
  • RP = Redeemable Preferred
  • RP+C = Redeemable Preferred and Common
  • RP+CP = Redeemable Preferred and Convertable Preferred
  • PCP = Participating Convertable Preferred
  • PCPC = Participating Convertable Preferred with Cap
Investment Investment is in Millions.
For example: enter "10" for $10M
Shares Number of shares are in Millions.
For example: enter "10" for $10M
Liquidation Pref Liquidation Preference is in multiples of Aggregate Purchase Price (APP)
For example: Enter "1" for 1X preference
RP APP Aggregate Purchase Price is in Millions.
For example: enter "10" for $10M
QPO Threshold QPO Threshold is in multiples of OPP
For example: Enter "5" for 5X OPP.
NOTE: This cell is only active for PCP or PCPC Security Types
CAP CAP is in multiples of the APP
For example: Enter "3" for 3X CAP.
NOTE: This cell is only active for PCPC Security Types
Dividend Type Dividend Type definitions here.
Dividend (%) Dividend % definition here.
Founders' Shares Founder's Shares definition here. Global value for all series...

AUTO INPUTS[show/hide]

Total Valuation Total Valuation definition here. Global value for all series...
Volatility (%) Volatility definition here. Global value for all series...
Risk Free Rate (%) Risk Free Rate as a percentage (%). Global value for all series...
Exp. Holding Pd. Expected Holding Period in years. Global value for all series...
Committed Capital Committed Capital definition here.
Lifetime Fees FEES definition here.
GP (%) GP % definition here.
Percentage Value

AUTO OUTPUTS[show/hide]

LP Cost Limited Partner Cost definition here.
Partial Valuation Partial Valuation definition here.
GP Valuation General Partner Valuation definition here.
LP Valuation Limited Partner Valuation definition here.
Implied-post Valuation Breakeven definition here.

SERIES DIAGRAMS:[show/hide]

Founders Series Inactive
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Series A Inactive
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Series B Inactive
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Series C Inactive
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Series D Inactive
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Series E Inactive
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Series F Inactive
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Series G Inactive
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Series H Inactive
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COMPOSITE DIAGRAM:[show/hide]

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