How does the VC commitment pacing calculator work?

It models commitments, capital calls, distributions and NAV over time to estimate a sustainable annual commitment pace.

What is a venture capital commitment?

A commitment is the amount an LP agrees to invest in a fund, drawn over time through capital calls rather than paid in on day one.

Limited partner planning tool

VC Commitment Pacing Calculator

How much should your institution commit to venture capital each year to reach and maintain its target allocation?

The main question this calculator answers

“If I want to maintain a 10% allocation to venture ten years from now, how should I pace my commitments?”
“I am below my VC target today—how much new capital should I commit each year to get there?”
“What could this commitment programme mean for the timing of calls and distributions?”

Your programme

Start with the essentials. Results update as you type.

Total portfolio value

All assets in the institution—the denominator for the VC allocation.

Target VC allocation

The fixed share of the total portfolio you want held in VC, measured by NAV.

Current VC NAV

What your existing VC fund interests are worth today—not their original commitments.

Current unfunded commitments

Capital already promised to existing funds that has not yet been called. It creates future cash needs and later becomes VC NAV.

Target allocation deadline

yrs

The year by which the VC allocation must be at or above target—not necessarily the first year it may reach it. The model then keeps it at or above target for five years.

Adjust assumptions +

Annual non-VC portfolio growth Applied to assets outside the VC programme

Annual VC NAV growth Before distributions Capital-call profile Current VC portfolio average age Blended years since commitment; default produces distributions from Year 3 Existing unfunded draw period Years remaining for current commitments Distributions start Years after each fund commitment Expected life per fund vintage Years after each fund commitment Annual distribution pace Of available NAV after start Distribution slowdown stress Reduction from the expected distribution pace

Your recommended pace

A scenario-based estimate using the assumptions shown at left.

Recommended commitment — Year 1

$0.0m

The starting commitment for the annual programme.

Commitment schedule

Year 1 matches the headline recommendation. Later commitments adjust with the assumed non-VC portfolio growth rate.

Capital calls and distributions

Aggregated across every active fund vintage. A call in Year 10 comes from newer vintages—not Year 10 of the first fund.

Calls across active fundsDistributions from mature fundsNet programme cash flow

Projected VC allocation

Combined NAV across all active fund vintages as a share of the total portfolio.

Target by deadline—

Combined VC allocationTarget allocation

Frequently asked questions

VC commitment pacing for LPs

Why pace commitments annually?

Annual pacing spreads vintage-year exposure and gives an investment programme a repeatable way to replenish NAV as mature funds distribute capital.

Why are there calls in Year 10?

They come from newer fund vintages committed in later years. The first fund is not assumed to be making ordinary investment calls in its tenth year.

What does “unfunded” mean?

Unfunded commitments are promised capital that has not yet been called. They create future liquidity needs before they create NAV.

Why is the target based on NAV?

NAV is the invested value that contributes to portfolio allocation. A commitment is not fully invested immediately, so commitment targets and allocation targets differ.