# Venture Capital Model, Quarterly Forecast

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

## Model Information
- Rating: 5.0 (213 ratings)
- Downloads: 17,696
- Date: 29 August 2024

## 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 simultaneously.
- **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.
1. **[Context primer](https://www.hemrock.com/docs/ai?template=venture_fund)** — paste into Claude or ChatGPT before any change.
2. **[Prompt guide](https://www.hemrock.com/docs/ai?template=venture_fund)** — ready-made prompts for fund setup, portfolio construction, and scenario analysis.
3. **[Connect MCP](https://www.hemrock.com/mcp)** — Claude Desktop or Claude.ai pulls model context automatically.
4. **Verify before trusting.** AI gets fund waterfall logic subtly wrong. 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](https://www.hemrock.com/venture-fund-model)**.
- Need high-level fund economics without quarterly pacing? Use the **[Fund Economics Tool](https://www.hemrock.com/venture-fund-model-overall)**.
- Just analyzing individual deals, not the fund? Use the **[Venture Valuation Tool](https://www.hemrock.com/venture-valuation-tool)**.

## Documentation
- [Portfolio construction](https://www.hemrock.com/docs/portfolio-construction)
- [Fund waterfall](https://www.hemrock.com/docs/fund-waterfall)
- [VC metrics](https://www.hemrock.com/docs/vc-metrics)
- [How Hemrock models are built](https://www.hemrock.com/docs/getting-started)
- [Support](https://www.hemrock.com/support)

## Ratings
This model: 5.0 (213 ratings)  
5 ★ 99%  
4 ★ 1%  
3 ★ 0%  
2 ★ 0%  
1 ★ 0%

## 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.”

Seth Hallen· Managing Partner, Hallstone Ventures

> “The Manual Portfolio Fund offers a unique granularity that sets it apart. Highly recommended!”  
Michael Morvan· Investor, Roch Ventures

> “Great product that made a huge project much much much easier. Quick response to questions and clarifications. Excellent!”

Lawson Carmichael· Venture Partner, Resilient Ventures, LLC

## Payment Information
Pay what you want. $25 suggested, but "0" is ok. All donations appreciated.  
Buy
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→](https://www.hemrock.com/venture-fund-model-quarterly/structure)**  
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