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Performance metrics

Vintage Benchmark

A vintage benchmark is a comparison of a fund’s performance with a defined peer group, usually grouped by vintage year and strategy. Confirm the data provider, as-of date, sample, fee basis, and whether the comparison uses DPI, TVPI, or IRR.

Example: Compare a 2018 seed fund’s reported DPI with a 2018 seed peer set using the same reporting date.

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Knowing the language helps you follow the conversation. Knowing what to ask is how you participate in it.

Understanding the terms is a first step. The Aligned Capital Program uses them to teach you how to evaluate a fund and prepare the questions to ask its manager.

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