Investor ROI Calculator
Estimate the return multiple and IRR on a startup investment — accounting for future dilution before exit.
The Deal
Model an angel or seed check through to exit.
Ownership lost to later rounds & option pools before exit.
How to calculate return on a startup investment
Your initial ownership is your check divided by the post-money valuation. But that stake shrinks with every future round — so apply expected dilution before valuing it at exit:
Return Multiple = (Exit Valuation × Exit Ownership) ÷ Investment
IRR = Multiple^(1 ÷ Years) − 1
Angel and seed investors typically underwrite to a 10x+ potential on winners, because most of a portfolio returns little or nothing — the power law does the work. A 5–7 year hold at a 10x multiple is roughly a 40–58% IRR. Dilution of 30–50% between seed and exit is normal; ignoring it overstates returns significantly.
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