The math investors run before they say yes
- 10x+
- Typical seed-fund MOIC target
- 25%+
- IRR investors aim for at seed
- 12
- Languages supported
- Free
- No credit card required
Free founder calculator
The return your investor wants, calculated
Drop in the investment, your projected exit valuation, the holding period, and ownership. We model the MOIC and IRR so you understand what investors actually need to say yes.
- MOIC (multiple on invested capital) and IRR side by side
- Understand the exit your investors require to back you
- Free. Localized in 12 languages. No card.
Used by founders pitching seed through Series B with realistic exit math.
Created by founders from top global accelerators
How it works
Four numbers. One clear ROI story. Zero pitch-math panic.
- 01
Drop in deal and exit numbers
Investment amount, projected exit valuation, expected holding period, and investor ownership at exit.
- 02
We compute MOIC and IRR
MOIC is the multiple (10x, 20x). IRR is the annualized return (25%, 35%). Both numbers investors care about.
- 03
Stress-test the exit
What MOIC at half the exit valuation? At twice? Run scenarios so your investor conversation holds up.
See what you'll get
Investor MOIC and IRR with the exit assumptions spelled out. Sign up to calculate your own.
Sample result
MOIC (multiple)12.0xMultiple on invested capital. $1M check returns $12M at the modeled exit. Seed funds typically need 10x+ on winners.
IRR (annualized)37%Internal rate of return over the holding period. Seed funds target 25%+ on winners; this exceeds the bar.
Investor exit proceeds$12.0MOwnership times exit valuation. The check the investor cuts when you sell or IPO.
Sign up to calculate your own ROI math across multiple exit scenarios.
How investors actually evaluate your exit math
Investors do the math you should be doing. Four moves to make sure your numbers survive the meeting.
01
Seed funds need ONE 10x+ winner per 30 investments
Most seed investments fail or return at 1x. Funds need a few 10x+ winners to deliver fund-level returns. When you pitch a seed investor, your business needs to PLAUSIBLY return 10x. Anything less and the math does not work for them.
02
MOIC matters more than IRR at seed
IRR is sensitive to holding period and assumes consistent compounding. MOIC is the raw multiple. Seed investors talk in MOIC because exits are binary: you 0x or you 10x+. IRR matters more at Series C and later when timelines are predictable.
03
Justify the exit with comparables
A $60M exit needs comparable comps. Find 3 to 5 acquisitions or IPOs in your space at that valuation in the last 3 years. If you cannot, the exit assumption is fantasy. Investors will catch it.
04
Show the investor math in the deck explicitly
Most founders skip the slide where investor math gets shown. That is a mistake. Include a slide: 'On a $60M exit in year 7, your $1M check returns 12x at 37% IRR.' It signals you understand THEIR job, not just yours.
Frequently asked questions
What is MOIC versus IRR?
MOIC is the multiple on invested capital (a $1M investment returning $10M is 10x MOIC). IRR is the internal rate of return, annualized. MOIC ignores time; IRR includes it. Both matter, but MOIC is the primary metric at early stage.
What MOIC do seed investors target?
10x+ MOIC on winners is the typical seed-fund hurdle. Some funds aim for 30x+ on outlier winners. The number is so high because most seed investments fail (0x), and winners have to cover the losers.
How long do seed investors hold?
Typical hold is 7 to 10 years. Some exits happen earlier (3 to 5 years), some later (10+). Investors model 7 years as the standard assumption. Use that as your default exit timeline.
What if my exit is smaller than 10x?
Investors still take small exits, but they prefer founders with a credible 10x+ path. If your business has a clear ceiling under 5x for the seed investor, target angels and family offices rather than venture funds. Match the math to the right capital source.
Does the calculator account for dilution between rounds?
Use 'ownership at exit' as the diluted ownership AFTER all future rounds. Typical seed investor goes from 20% post-seed to 10% post-Series B due to dilution. Model the diluted number for realistic returns.
Keep going
Investor math is one slide. Here is the rest of the pitch.
Round Funded
Speak the investor's language.
Round Funded gives you the calculators, the investor list, and the outreach so every pitch closes on math, not magic. Track every meeting in one pipeline.