Juan Orbea

Performance Metrics

Total Value to Paid-In Capital (TVPI)

TVPI is a measure of both the realized and unrealized value of a fund as a proportion of the total paid-in, or contributed, capital. It is calculated by (total value) / (paid-in capital) where total value is (distributions + net asset value). A TVPI over 1.00x means an investment’s value

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Within the broad umbrella of SMRs and microreactors, though, there are a number of additional innovations.

One area that’s often underinvested in (e.g. lots of room to work in) while also being highly leveraged is growing the team around you. If you start dedicating even a couple hours a week to developing the team around you, it’s quite likely that will become your legacy long after your tech specs and pull requests are forgotten.

Blockchains are the Lego of crypto-finance and crypto-governance: they are a very effective tool for implementing transparent in-protocol rules to govern common resources, assets and incentives.

At some point in the 90s Coca Cola was 40% of BH’s portfolio, and they made a 13x on the investment during the next decade

What’s fascinating is that this is because of math. Nodes that are “ahead” get picked more often by the other nodes because they are ahead and thus offer the nodes choosing them less friction and more benefit. When this gets repeated many times, it systematically directs more resources to the nodes that already have relatively more.