TVPI (Total Value to Paid-In)

TVPI is the total value a fund has created per dollar invested, combining cash already distributed (DPI) with the current estimated value of remaining holdings (RVPI). A TVPI of 1.8x means every $1 called is now worth $1.80 in realized plus unrealized value. Because it includes paper marks, TVPI is less certain than DPI, especially early in a fund's life.