Problem: A VC raises a $440m venture fund and makes 28 investments. a. Roughly how much does the VC initially invest in each of these portfolio companies ($s, on average)? b. Roughly how much does the VC invest in follow-on investments over the life of the Fund ($s, total)? c. Roughly how much does the VC own in these companies? d. If three of the investments pay off big, will this Fund be successful? e. In this case, what size exit is required in these three "big" winners? ($s)