Startup Investor

How to Play

Step-by-step guide: from your first angel check to managing a PE mega-fund.

1

Choose Your Tier

Select your starting investor tier and name your fund. Each tier has different check sizes, fund structures, and deal flow.

  • 5 tiers: Angel โ†’ Micro VC โ†’ VC โ†’ Growth Equity โ†’ PE
  • Angel uses personal capital; others manage LP funds
  • Higher tiers unlock bigger checks and complex deals
  • Build your track record to unlock the next tier
2

Evaluate Deals

Each month, new startup opportunities appear in your deal flow. Evaluate founder quality, product strength, and market timing.

  • Review key metrics: MRR, growth rate, burn, valuation
  • Assess quality scores: Founder, Product, Market
  • Choose check size within tier limits
  • Pass or invest โ€” every decision matters
3

Manage Portfolio

Track portfolio companies as they grow, pivot, or fail. Decide on follow-on timing or exit opportunities.

  • Monitor MRR growth, churn, and runway
  • Companies progress through funding stages
  • Some will fail โ€” portfolio diversification matters
  • Follow-on investments in top performers
4

Navigate Markets

React to market booms, crashes, hot sectors, and regulatory changes that affect your portfolio.

  • Market events impact valuations across your portfolio
  • Hot sectors can create rapid value โ€” or destroy it
  • Expand your network for better deal flow
  • Attend events for reputation and access
5

Exit and Level Up

Harvest returns through IPOs, acquisitions, and secondary sales. Build your track record to unlock higher tiers.

  • IPOs for the biggest winners (Series C+)
  • Acquisitions for solid returns at any stage
  • Secondary sales for liquidity on long positions
  • Hit wealth targets to unlock the next tier

Game Details

๐Ÿ—“๏ธ

Monthly Cycle

  • Review new deals in pipeline
  • Invest or pass
  • Monitor portfolio company metrics
  • Evaluate exit offers
  • Collect management fees and carry
๐Ÿ’ฐ

Fund Economics

  • Management fee: 1.5โ€“2% of AUM annually
  • Carried interest: 20โ€“25% of profits
  • LP satisfaction affects future fundraising
  • Fund deployment rate matters
  • Multi-vintage fund strategy
๐Ÿ“Š

Performance Metrics

  • IRR: Internal Rate of Return
  • TVPI: Total Value / Paid In
  • DPI: Distributions / Paid In
  • Personal wealth accumulation
  • Final grade: S / A / B / C / D / F