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RVPI Calculator - Residual Value to Paid-In Capital

Written by:
PK

On this page is a RVPI calculator, or Residual Value to Paid-In Capital calculator. Enter the fund's residual value estimate (net of any expenses, fees, carry, promote, and so on) and the amount LPs have paid into the fund (called capital) to compute the RVPI multiple.

Residual Value to Paid-In Capital Calculator

Using the RVPI Calculator

Before you can use the RVPI calculator, gather two inputs:

  • Residual Value - the estimated value of remaining investments and cash in the funds owed to LPs net of fees, expenses, carried interest, promote, or other costs.
  • Called/Paid-In Capital - called money in the fund, or money paid-in by LPs.

Assuming all investors started simultaneously under the same terms, the math will be equivalent whether you run the numbers for the whole fund or a single pro-rated investment.

What is RVPI?

RVPI is the Residual Value to Paid-In Capital multiple. It shows how much the fund has yet to pay out to Limited Partners versus how much those investors have paid into a fund.

RVPI is related to the TVPI multiple or Total Value to Paid-In Capital. TVPI also includes all distributions made to investors, further isolated in the DPI multiple, or Distributions to Paid-In Capital ratio.

RVPI is not time-aware, you might be looking at marks from a year-old fund, or seven years into the fund. To better compare to your other investments, use the fund's net IRR.

RVPI in Investments

RVPI is an excellent multiple to use when guessing how much more an investment might pay out to LPs. However, residual value isn't a guarantee; more expenses or fees can change the RV, and all sorts of other things can change the value of the remaining investment in a fund... such as if the value of some of the investment declines.

Other private investment and general calculators:

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