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You should figure out (i) if the carry is on the entire fund or specific investments completed during your tenure, (ii) what that equates to if the investment / fund returns 2.0x invested capital, and (iii) what the vesting schedule looks like
VC carry can take extremely long to payout, so I’d discount it at a pretty high rate
Yeah exactly what I was thinking about. Given that 60%+ barely return initial capital or take a loss, plus the time commitment, it just feels like a tickle to make you overlook the crappy cash comp.