Angel & VC Portfolio Return Calculator
What return could my startup portfolio make?
Startup investing is a power-law game: most bets return little and a few winners drive the result. Model your portfolio honestly.
Embed this calculator on your website (free)
Copy this code into your page. Free to use with the credit link intact.
How this calculator works
Winners = 100% − failures − break-evens. Total returned = cheque × count × (break-even share × 1 + winner share × winner multiple). Yearly return = multiple^(1 ÷ years) − 1, assuming all money is invested at the start.
Frequently asked questions
How many startups should an angel back?
Because outcomes are so uneven, many experienced angels suggest building a portfolio of 20 or more companies over time rather than a few large bets.
Is this realistic?
It is a planning model. Real returns vary hugely, money is locked up for years and many portfolios lose money.
Results are estimates based on the numbers you enter and simplified assumptions. They are not financial advice. See our disclaimer.