Angel Returns Model for Excel and Google Sheets

You’ve closed angel investments in great startups, but have you calculated your performance as an investor?

The Angel Returns Model is a top-investor-approved spreadsheet model built to help angel investors track investment returns today and in the future.

If the companies you’ve invested in took on additional investment or had exits, you’re just one step away from knowing those numbers.

And you’ll be in good company. 

This model is being used today by top angel investors to calculate, update, and constantly know their two most important metrics: MOIC and IRR.

What are top angel investors tracking?

Multiple on invested capital (or MOIC) represents the current value of your investment as a multiple of the original investment.

• MOIC is an easily calculated and frequently used metric of investment performance.
• As often observed, angel returns follow something akin to a power-law distribution. Most of the returns come from a minority of one's investments, implying that your best investments need a high multiple (e.g. 10x or 100x) for your portfolio to yield a good overall multiple (e.g. 3x).
• E.g. Sequoia’s $25k scout investment in Uber legendarily returned a 3900x multiple

Internal rate of return (or IRR) represents the net present value of all cashflows from your investment.

• IRR addresses one of the major gaps of MOIC by measuring how long each return took to earn.
• IRR is used by many types of investors (LPs, public market investors, capital allocating CEOs) to easily compare the performance of investments with different time horizons. For angel investors interested in starting a syndicate, raising a rolling fund, or joining a venture firm, IRR is the gold standard metric of performance.
• E.g. Ashton Kutcher invested $1M in Skype’s carve-out from Ebay in 2009. When Microsoft acquired the company eighteen months later, Kutcher’s stake was worth $4M, which gave that investment a 152% IRR.

Why this model?

It’s been battle-tested. Founders, operators, and top VCs are using this model today for their personal investment portfolios. It's already de-risked for you.

It’s purpose-built. No need to research calculation methodologies or build a complex spreadsheet from scratch. What you need is here.

It’s easy to use. Drop in your data and let the model do the work. Know your MOIC and IRR instantly.

What do you get?

Purchasing the Angel Returns Model unlocks access to an immediately downloadable .xlsx Excel file, which can be used in Excel, Google Docs, and other spreadsheet apps. 

Knowledge is power.

The Angel Returns Model helps you track your investments now and in the future.

Join other investors and know your returns.