VENTURE CAPITAL - COMPANION FILES
julianrsterling.com/venture

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Revised 24 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's four workbooks, in English and corrected
   The_Four_Multiples.xlsx      Chapters 1, 2, 3, 13 and 15
   The_Power_Law.xlsx           Chapters 4 to 8
   The_Reserve.xlsx             Chapters 8 to 12
   Fees_Carry_and_Time.xlsx     Chapters 13 to 16
   00_START_HERE.md             what changed is at the end
   Each workbook closes on a Checks sheet: 312 controls in all.

2. Blank_Model_Set/  (new)
   The four workbooks with every input emptied: the fund terms, up to
   twenty-eight lines, the investment schedule. Each Checks sheet counts
   what is still missing and tests what holds for any inputs. The book's
   figures are in book_inputs.txt: type them back in and the book's
   results come back.

3. Working_Documents.pdf  (new)
   Thirteen printable pages: the denominators, the fee schedule on two
   numbers, the recycling clause, the realised table, concentration, the
   follow-on memo, the committee agenda, the split track record, the
   manager's take at four outcomes, the carried interest clause, four
   numbers on stated denominators, the J-curve planned in advance, and
   re-underwriting a fund in eight steps. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_What_The_Recycled_Capital_Had_To_Earn.xlsx   Chapter 3
   Case_2_Two_Quarters_On_A_Credit_Line.xlsx           Chapter 18
   Case_3_Five_Vintages_One_Programme.xlsx             Chapter 16
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
