Private Equity Fund Size Step-Up Calculator for LPs
For LP diligence on whether a manager’s next private-equity or VC fund is scaling beyond its prior strategy.
For an LP reviewing a re-up, how large is the step-up from a $400m prior fund to a $650m proposed fund?
Fund scaling at a glance
Estimate based on the inputs shown.
How it is calculated
Fund size change = (new fund size − previous fund size) ÷ previous fund size
Use comparable definitions, such as final closes or consistently stated targets.
Read the result in context
For an LP investment team, a large fund-size step-up is a diligence prompt about check sizes, ownership targets, portfolio construction, team capacity and the manager’s investable opportunity set.
What is a fund size step-up?
The percentage increase or decrease from one fund size to the next.
Can the result be negative?
Yes. A smaller new fund produces a negative change and is labeled as a reduction.
Should targets and final closes be compared?
Use the most comparable figures available. Mixing a prior final close with a new aspirational hard cap can overstate actual growth.