What is Distributed to Paid-In Capital?
Distributed to Paid-In Capital
Distributed to Paid-In Capital (DPI) measures the actual cash returns distributed to a fund's investors (LPs) relative to the total capital they have paid into the fund.
Why It Matters for Startups
Directly dictates the cap table and dilution structure during fundraising; understanding Distributed to Paid-In Capital helps founders model equity distributions when structuring rounds for vc realized performance tracking.
Detailed Deep Dive
Distributed to Paid-In Capital (DPI) measures the actual cash returns distributed to a fund's investors (LPs) relative to the total capital they have paid into the fund.
Frequently Asked Questions
Q:Why is DPI preferred over TVPI?
DPI measures real cash distributions ("cash on cash"), while TVPI includes speculative, non-liquid paper valuations.
Q:What does a DPI of 1.0x mean?
It means the fund has returned exactly the amount of capital invested to LPs; any further distribution is profit.
Quick Facts
- CategoryMetrics
- Key ApplicationVC realized performance tracking
Coverage Trend12 Weeks
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