Commitment schedule
Year 1 matches the main result. Later commitments adjust with the assumed non-VC portfolio growth rate.
VC Commitment Pacing Calculator for Institutional LPs
How much should an LP commit to venture capital each year to reach and keep its target share? Use this tool for a pension, endowment, family office or fund of funds.
Questions this calculator answers
- 1. We want 10% of our portfolio in venture capital in ten years. How much should we commit each year?
- 2. Our LP programme is below its VC target. How much should we commit each year to close the gap?
- 3. If we already hold $25 million in venture funds, how would capital calls and distributions affect our commitment pacing?
Your recommended pace
An estimate based on the assumptions shown at left.
Recommended commitment — Year 1
$0.0m
The starting commitment for the annual programme.
Capital calls and distributions
Added up across all active funds, from each start year. 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
VC commitment pacing for LPs
Why pace commitments annually?
Yearly commitments spread investments across fund start years. They also help replace NAV as older funds pay cash back.
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 value held in investments. It counts toward your portfolio share. A commitment is not all invested at once. The amount you promise and the value you hold are different targets.