Investor ROI Calculator

See your round through an investor’s eyes: what their stake could be worth at exit, and the multiple and IRR it implies.

Your result

Estimates for educational purposes, not financial or legal advice.

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How it works

An investor’s entry stake shrinks as later rounds dilute it. The calculator applies your expected dilution, multiplies by the exit valuation, and compares that with the cheque to get MOIC (multiple on invested capital) and IRR (annualised return).

Formula

Entry stake = Investment ÷ Post-money
Stake at exit = Entry stake × (1 − dilution)
Exit value = Stake at exit × Exit valuation
MOIC = Exit value ÷ Investment
IRR = MOIC^(1 ÷ years) − 1

Frequently asked questions

Why do VCs need 10× or more on each deal?

Because most investments in a fund return little or nothing. A few winners have to return the whole fund, so each new investment must plausibly be able to become one of them.

How much dilution should I assume until exit?

For a seed investor, 40–60% dilution across later rounds is a common working assumption. It depends heavily on how many rounds you raise.

What is the difference between MOIC and IRR?

MOIC ignores time: 3× is 3× whether it takes 3 or 10 years. IRR annualises the return, so the same 3× is excellent over 3 years and mediocre over 10.

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