Venture Capital Model, Quarterly Forecast

Simplified model for forecasting a venture fund, to help understand overall fund assumptions and how portfolio construction impacts returns.

5.0(213)17,696 downloads

“Taylor Davidson’s VC model was a game changer for me. It sharpened my thinking immediately, and the time I spent with him was incredibly helpful. Taylor combines deep expertise with a practical, friendly approach, especially for a new fund manager.”

Seth Hallen· Managing Partner, Hallstone Ventures

Pay what you want

$25 suggested, but "0" is ok. All donations appreciated.

$USD

Instant Access

Download to Excel or Copy to Google Sheets

Easy to customize with your AI

Free email support

Inside the model · 15 sheets · 8 sections

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What you'll do with it

Forecast a venture fund quarter by quarter. Capital calls, investments, exits, distributions, management fees, and fund expenses on a quarterly timeline with up to three scenarios side by side.

Built for GPs and emerging managers who need granular pacing, not just overall economics.

What's in the model

Quarterly cash flows. Capital calls, investments, and distributions on a per-quarter basis.
Portfolio construction. Check sizes, reserves, follow-ons, graduation rates.
Three scenarios. Model pessimistic, base, and optimistic return assumptions side by side.
Performance metrics. Gross and Net IRR, TVPI, DPI, RVPI per scenario.
Management fees and expenses. Quarterly fee calculations with recycling logic.

Edit with AI

Every cell open. Inputs in blue, formulas in black, rows documented. Built so you and your AI can edit without breaking it.

Context primer. Paste it into Claude or ChatGPT before you make a change.
Prompt guide. Ready-made prompts for fund setup, portfolio construction, and scenario analysis.
Hemrock Skill. A drop-in Claude Agent Skill that loads this model's sheet map, prompts, and checks into any Claude Project. Free, with no connector to set up.
MCP server. On ChatGPT, Cursor, or another tool? The MCP server feeds the same context to any AI that speaks MCP.
Verify before you trust. AI gets fund waterfall logic subtly wrong, so use the sanity-check prompts.

When to use something else

Need the full annual model with fund-level financial statements, detailed waterfall, and LP classes? Use the Venture Capital Model.
Need high-level fund economics without quarterly pacing? Use the Fund Economics Tool.
Just analyzing individual deals, not the fund? Use the Venture Valuation Tool.

Common questions

Why use this when AI can build a quarterly fund model?
Quarter-by-quarter pacing is where a fund model gets fragile: capital calls, recycling, and waterfall timing all have to line up across the timeline. AI will produce something that looks right and is off in ways you won't see until an LP does. This gives it a structure where that timing logic already holds.

Doesn't my fund administrator already track this?
A fund admin reports the quarters that have happened. This forecasts the ones that haven't: pacing, reserves, and distributions across the life of the fund. It's how you plan and pressure-test, before the actuals exist.

Do I need this or the annual Venture Capital Model?
Use this when quarterly pacing is the point. Use the Venture Capital Model when you need fund-level financial statements, the detailed waterfall, and LP classes. The links below lay out the rest.

Documentation

Ratings

5.0(213 ratings)

99%

Reviews

“Taylor Davidson's VC model was a game changer for me. It sharpened my thinking immediately, and the time I spent with him was incredibly helpful. Taylor combines deep expertise with a practical, friendly approach, especially for a new fund manager.”