{"id":24947,"date":"2025-02-18T08:27:23","date_gmt":"2025-02-18T08:27:23","guid":{"rendered":"https:\/\/digify.com\/?p=24947"},"modified":"2026-02-26T13:35:53","modified_gmt":"2026-02-26T13:35:53","slug":"calculating-communicating-fund-metrics","status":"publish","type":"post","link":"https:\/\/staging-x.digifyteam.com\/ko\/calculating-communicating-fund-metrics\/","title":{"rendered":"\ud22c\uc790\uc790 \uad00\uacc4 \ud544\uc218 \uc0ac\ud56d: \ud380\ub4dc \uc9c0\ud45c \uacc4\uc0b0 \ubc0f \uc804\ub2ec\uc744 \ud1b5\ud55c LP\uc758 \uc2e0\ub8b0 \uad6c\ucd95"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"24947\" class=\"elementor elementor-24947\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2ad8004 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ad8004\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a6d70de\" data-id=\"a6d70de\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b5512fc elementor-widget elementor-widget-heading\" data-id=\"b5512fc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\ud380\ub4dc \uc131\uacfc \uc9c0\ud45c \uc18c\uac1c<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5588745 elementor-widget elementor-widget-text-editor\" data-id=\"5588745\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\ubcf4\uace0\u00a0<span style=\"font-weight: bold;\">\ud380\ub4dc \uc131\uacfc \uc9c0\ud45c<\/span>\u00a0\uc815\ubcf4\ub97c \uc815\ud655\ud558\uac8c \ud30c\uc545\ud558\ub294 \uac83\uc740 \uc62c\ubc14\ub978 \ud22c\uc790 \uacb0\uc815\uc744 \ub0b4\ub9ac\ub294 \ub370 \ud544\uc218\uc801\uc785\ub2c8\ub2e4. \uae30\uad00 \ud22c\uc790\uc790, \ud328\ubc00\ub9ac \uc624\ud53c\uc2a4, \uace0\uc561 \uc790\uc0b0\uac00\ub4e4\uc774 \ud22c\uc790\uc758 \uc7a0\uc7ac\ub825\uacfc \uc9c4\ud589 \uc0c1\ud669\uc744 \ud3c9\uac00\ud558\uae30 \uc704\ud574 \uba85\ud655\ud558\uace0 \uc77c\uad00\ub41c \ub370\uc774\ud130\uc5d0 \uc758\uc874\ud558\ub294 \ubca4\ucc98 \uce90\ud53c\ud138(VC)\uc758 \uc138\uacc4\uc5d0\uc11c\ub294 \ud2b9\ud788 \uadf8\ub7ec\ud569\ub2c8\ub2e4.<\/p><p>\ud22c\uc790\uc790 \uad00\uacc4 \ud300\uc758 \uc77c\uc6d0\uc774\ub4e0, \ud380\ub4dc \ub9e4\ub2c8\uc800\ub4e0, \uc7ac\ubb34 \uace0\ubb38\uc774\ub4e0, \uc774\ub7ec\ud55c \uc8fc\uc694 \uc9c0\ud45c\uc5d0 \ub300\ud55c \ud0c4\ud0c4\ud55c \uae30\ucd08\uc640 \uc774\ub97c \ud6a8\uacfc\uc801\uc73c\ub85c \uc804\ub2ec\ud560 \uc218 \uc788\ub294 \ubc29\ubc95\uc774 \ud544\uc694\ud569\ub2c8\ub2e4. \uaddc\uc81c \uc694\uac74 \ucda9\uc871\ubd80\ud130 \uc720\ud55c\ucc45\uc784\uc0ac\uc6d0(LP)\uacfc\uc758 \uc2e0\ub8b0 \uad6c\ucd95\uae4c\uc9c0, \ud380\ub4dc \uc131\uacfc \ubcf4\uace0\ub97c \ub3cb\ubcf4\uc774\uac8c \ud558\ub294 \ubc29\ubc95\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-823e2bb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"823e2bb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-018c6f0\" data-id=\"018c6f0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-367db4c elementor-widget elementor-widget-heading\" data-id=\"367db4c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\uaddc\uc81c \uc694\uac74 \ubc0f \uc5c5\uacc4 \ud45c\uc900<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51961fc elementor-widget elementor-widget-text-editor\" data-id=\"51961fc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>1. SEC \ubcf4\uace0 \uc694\uac74<\/b><\/p><p>\ub4f1\ub85d\ub41c \ud380\ub4dc\ub97c \uc6b4\uc6a9\ud558\ub294 \uacbd\uc6b0 \uc6d4\ubcc4 \ub610\ub294 \ubd84\uae30\ubcc4 \ubcf4\uace0\uc11c\ub97c \uc81c\ucd9c\ud574\uc57c \ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ubbf8\uad6d \uc99d\uad8c\uac70\ub798\uc704\uc6d0\ud68c(SEC)\ub294 \ud2b9\uc815 \ud380\ub4dc\uac00 \ub9e4\uc6d4 \ub9d0\uc77c\ub85c\ubd80\ud130 30\uc77c \uc774\ub0b4\uc5d0 N-PORT \uc591\uc2dd\uc5d0 \ub530\ub77c \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ubcf4\uace0\uc11c\ub97c \uc81c\ucd9c\ud558\ub3c4\ub85d \uaddc\uc815\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p><p><b>2. ILPA(\uae30\uad00 \ud55c\uc815 \ud30c\ud2b8\ub108 \ud611\ud68c) \uac00\uc774\ub4dc\ub77c\uc778<\/b><\/p><p>ILPA\ub294 \uc0ac\ubaa8\ud380\ub4dc\uc758 \ud45c\uc900\ud654\uc640 \ud22c\uba85\uc131\uc744 \uc7a5\ub824\ud558\uae30 \uc704\ud574 \ubaa8\ubc94 \uc0ac\ub840\ub97c \ubc1c\ud45c\ud569\ub2c8\ub2e4. \uc774 \uac00\uc774\ub4dc\ub77c\uc778\uc5d0\uc11c\ub294 \uce90\ud53c\ud0c8 \ucf5c, \ubd84\ubc30 \ud1b5\uc9c0, \uc131\uacfc \ubcf4\uace0\ub97c \uc704\ud55c \uad8c\uc7a5 \ud615\uc2dd\uc5d0 \ub300\ud574 \ub2e4\ub8f9\ub2c8\ub2e4.<\/p><p><b>3. GIPS(\uae00\ub85c\ubc8c \ud22c\uc790 \uc131\uacfc \ud45c\uc900)<\/b><\/p><p>\uae00\ub85c\ubc8c \ud22c\uc790 \uc131\uacfc \uae30\uc900(GIPS)\uc740 CFA Institute\uc5d0\uc11c \uc81c\uc815\ud55c \uc77c\ub828\uc758 \uc724\ub9ac \uc6d0\uce59\uc785\ub2c8\ub2e4. \uaddc\uc815 \uc900\uc218\ub97c \uc8fc\uc7a5\ud558\ub294 \uacbd\uc6b0 \uc77c\ubc18\uc801\uc73c\ub85c \ucd5c\uc18c 5\ub144\uc758 \uac10\uc0ac \uc2e4\uc801\uc744 \uc81c\uc2dc\ud574\uc57c \ud558\uba70, \ubcf4\uace0 \ubc29\ubc95\uc774 \uc77c\uad00\ub418\uace0 \ube44\uad50 \uac00\ub2a5\ud55c \uc0c1\ud0dc\ub97c \uc720\uc9c0\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2e344bd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e344bd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e1ef1cb\" data-id=\"e1ef1cb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bbd782e elementor-widget elementor-widget-heading\" data-id=\"bbd782e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\ud22c\uba85\uc131\uacfc \uc815\ud655\uc131\uc5d0 \ub300\ud55c LP\uc758 \uae30\ub300\uce58<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-477a8e3 elementor-widget elementor-widget-text-editor\" data-id=\"477a8e3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc624\ub298\ub0a0\uc758 LP\ub294 \uc810\uc810 \ub354 \uc815\uad50\ud574\uc9c0\uace0 \uc788\uc73c\uba70 \ub2e4\uc74c\uacfc \uac19\uc740 \uc0ac\ud56d\uc744 \uc694\uad6c\ud569\ub2c8\ub2e4:<\/p><ul><li><b>\ud3ec\ud2b8\ud3f4\ub9ac\uc624 \uc804\ubc18\uc5d0\uc11c \uc77c\uad00\ub41c \ubcf4\uace0<\/b> \ub97c \uc0ac\uc6a9\ud558\uc5ec \ube60\ub974\uac8c \ube44\uad50\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\uc5b4\ud2b8\ub9ac\ubdf0\uc158 \ubd84\uc11d<\/b> \ub97c \ud1b5\ud574 \uac01 \ud22c\uc790\uac00 \uc804\uccb4 \uc218\uc775\ub960\uc5d0 \uc5b4\ub5a4 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294\uc9c0 \ud655\uc778\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\uc2e4\uc801 \ud655\uc778<\/b> \ub97c \uc0ac\uc6a9\ud558\uc5ec \uacfc\uac70 \uc2e4\uc801 \ub370\uc774\ud130\uc758 \uc815\ud655\uc131\uc744 \ud655\uc778\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b36a633 elementor-widget elementor-widget-text-editor\" data-id=\"b36a633\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc774\ub7ec\ud55c \uae30\ub300\uce58\ub97c \ucda9\uc871\ud558\uba74 \ud5a5\ud6c4 \ud380\ub4dc\ub808\uc774\uc9d5\uc744 \uc704\ud55c \ud3ec\uc9c0\uc154\ub2dd\uc5d0 \ub3c4\uc6c0\uc774 \ub429\ub2c8\ub2e4. \uac15\ub825\ud55c \uc2e4\uc801, \uc785\uc99d\ub41c \uc131\uacfc \uc9c0\uc18d\uc131, \ud53c\uc5b4 \uadf8\ub8f9 \ub300\ube44 \uacac\uace0\ud55c \uc218\uc775\ub960\uc744 \ubcf4\uc5ec\uc904 \uc218 \uc788\ub294 \ub2a5\ub825\uc740 \ud6c4\uc18d \ucc28\ub7c9\uc758 \uaddc\ubaa8\uc640 \uc870\uac74\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce60 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f73d29f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f73d29f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6dd59e4\" data-id=\"6dd59e4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-641fcfd elementor-widget elementor-widget-heading\" data-id=\"641fcfd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\uc774\ud574\uad00\uacc4\uc790\uc640\uc758 \uc2e0\ub8b0 \uad6c\ucd95<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02e07d4 elementor-widget elementor-widget-text-editor\" data-id=\"02e07d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\ud380\ub4dc \uc131\uacfc \uc9c0\ud45c\ub294 \ub2e8\uc21c\ud55c \uc22b\uc790\uac00 \uc544\ub2c8\ub77c \uc2a4\ud1a0\ub9ac\ud154\ub9c1\uacfc \uc2e0\ub8b0 \uad6c\ucd95\uc744 \uc704\ud55c \ub3c4\uad6c\uc785\ub2c8\ub2e4.<\/p><ul><li><b>\uc77c\uad00\ub41c \ucee4\ubba4\ub2c8\ucf00\uc774\uc158<\/b> \ub294 \uc5b4\ub824\uc6b4 \uc2dc\uae30\uc5d0\ub3c4 LP\ub97c \uc548\uc2ec\uc2dc\ud0b5\ub2c8\ub2e4.<\/li><li><b>\uc131\ub2a5 \ubcc0\ud654\uc758 \ucee8\ud14d\uc2a4\ud2b8\ud654<\/b> \ub294 LP\uac00 \ub2e8\uc77c \uc2dc\uc810 \ub108\uba38\ub97c \ubcfc \uc218 \uc788\ub3c4\ub85d \ub3c4\uc640\uc90d\ub2c8\ub2e4.<\/li><li><b>\uae30\ub300\uce58 \uad00\ub9ac<\/b> \ud22c\uc790\uc790\uc640 \ub354\uc6b1 \uac74\uac15\ud558\uace0 \ud22c\uba85\ud55c \uad00\uacc4\ub97c \uad6c\ucd95\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69a3481 elementor-widget elementor-widget-text-editor\" data-id=\"69a3481\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc774 \uae00\uc5d0\uc11c\ub294 \ubca4\ucc98 \uce90\ud53c\ud0c8 \ud380\ub4dc\uc758 \uc131\uacfc\ub97c \ud3c9\uac00\ud558\ub294 \ub370 \uc0ac\uc6a9\ub418\ub294 \uc8fc\uc694 \uc815\ub7c9\uc801 \uc9c0\ud45c\uc778 IRR, DPI, TVPI, RVPI, MOIC\uc5d0 \ub300\ud574 \uc0b4\ud3b4\ubd05\ub2c8\ub2e4. \ub610\ud55c \ud380\ub4dc\uc758 \ub77c\uc774\ud504\uc0ac\uc774\ud074\uc5d0 \ub530\ub77c \uc774\ub7ec\ud55c \uc9c0\ud45c\uac00 \uc5b4\ub5bb\uac8c \ubcc0\ud654\ud558\ub294\uc9c0 \uc0b4\ud3b4\ubcf4\uace0, LP\uc640 \uc18c\ud1b5\ud558\ub294 \ubaa8\ubc94 \uc0ac\ub840\uc5d0 \ub300\ud574 \uc124\uba85\ud558\uba70, Digify\uac00 \uc804\uccb4 \ubcf4\uace0 \ud504\ub85c\uc138\uc2a4\ub97c \uac04\uc18c\ud654\ud558\ub294 \ub370 \uc5b4\ub5bb\uac8c \ub3c4\uc6c0\uc774 \ub418\ub294\uc9c0 \uac15\uc870\ud560 \uac83\uc785\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bd2b85c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bd2b85c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-06814da\" data-id=\"06814da\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3bcc530 elementor-widget elementor-widget-heading\" data-id=\"3bcc530\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\uc8fc\uc694 \ud380\ub4dc \uc131\uacfc \uc9c0\ud45c\uc640 \uadf8 \uacc4\uc0b0\ubc95<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1252e01 elementor-widget elementor-widget-heading\" data-id=\"1252e01\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1. \ub0b4\ubd80 \uc218\uc775\ub960(IRR)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2daa31a elementor-widget elementor-widget-text-editor\" data-id=\"2daa31a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>\uc815\uc758 \ubc0f \uacf5\uc2dd<br \/><\/b>\ub0b4\ubd80 \uc218\uc775\ub960(IRR)\uc740 \uc720\uc785 \ubc0f \uc720\ucd9c\ub418\ub294 \ubaa8\ub4e0 \ud604\uae08 \ud750\ub984\uc758 \uc21c\ud604\uc7ac\uac00\uce58(NPV)\ub97c 0\uc73c\ub85c \uc124\uc815\ud558\ub294 \ud560\uc778\uc728\uc785\ub2c8\ub2e4. \uc218\ud559\uc801\uc73c\ub85c \ud45c\ud604\ud569\ub2c8\ub2e4:<\/p><p><em>0 = CF\u2080 + CF\u2081\/(1+IRR) + CF\u2082\/(1+IRR)\u00b2 + ... + CF\u2099\/(1+IRR)\u207f<\/em><\/p><p>CF = \ud2b9\uc815 \uc2dc\uac04 \uac04\uaca9\uc758 \ud604\uae08 \ud750\ub984(i)<br \/>n = \ucd1d \uc2dc\uac04(\ub144)<\/p><p><b>\uc911\uc694\ud55c \uc774\uc720<br \/><\/b>IRR\uc740 \ud604\uae08 \ud750\ub984\uc758 \uc2dc\uae30\uc640 \uaddc\ubaa8\ub97c \ubaa8\ub450 \uace0\ub824\ud55c \uc5f0\uac04 \uc218\uc775\ub960\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \uc774\ub97c \ud1b5\ud574 LP\ub294 \ud380\ub4dc\uc758 \ud22c\uc790\uae08\uc774 \uc5bc\ub9c8\ub098 \ube60\ub974\uac8c \uc131\uc7a5\ud558\uace0 \uc788\ub294\uc9c0 \uc774\ud574\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><p><b>\uc54c\uc544\ub450\uc5b4\uc57c \ud560 \uc0ac\ud56d<\/b><\/p><ul><li><b>\uc911\uac04 \ubc0f \ucd5c\uc885 IRR \ube44\uad50:<\/b> \ud380\ub4dc\uac00 \ud65c\uc131\ud654\ub418\uc5b4 \uc788\ub294 \ub3d9\uc548 \uc911\uac04 IRR\uc5d0\ub294 \uc2e4\ud604\ub41c \uc218\uc775\uacfc \ubbf8\uc2e4\ud604 \uc218\uc775\uc774 \ubaa8\ub450 \ud3ec\ud568\ub429\ub2c8\ub2e4. \ucd5c\uc885 IRR\uc740 \ud380\ub4dc\uac00 \uccad\uc0b0\ub41c \ud6c4 \uc2e4\ud604\ub41c \uc218\uc775\ub960\ub9cc \ubc18\uc601\ud569\ub2c8\ub2e4.<\/li><li><b>\uc2e0\uc6a9 \uc2dc\uc124:<\/b> \ud380\ub4dc\uac00 \uc2e0\uc6a9 \ud55c\ub3c4\ub97c \uc0ac\uc6a9\ud558\uc5ec \uce90\ud53c\ud0c8 \ucf5c\uc744 \uc9c0\uc5f0\uc2dc\ud0a4\uba74 IRR\uc774 \uc778\uc704\uc801\uc73c\ub85c \ubd80\ud480\ub824\uc9c8 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ud604\uae08 \ud750\ub984\uc758 \ud0c0\uc774\ubc0d\uc774 \ubcc0\uacbd\ub418\uc5b4 \ub2e8\uae30\uc801\uc73c\ub85c IRR\uc774 \uc0c1\uc2b9\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\ucd08\uae30 \ud380\ub4dc \uc0dd\ud65c:<\/b> 1~4\ub144\ucc28(\u201c\uc8fd\uc74c\uc758 \uacc4\uace1\u201d)\uc5d0\ub294 \uc790\ubcf8 \uc720\ucd9c\uc774 \ubc30\ub2f9\uc744 \ucd08\uacfc\ud558\uae30 \ub54c\ubb38\uc5d0 IRR\uc774 \ub9c8\uc774\ub108\uc2a4\uac00 \ub418\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4.<\/li><\/ul><p><b>\uc608<\/b><br \/>\uc624\ub298 $5,000\uc744 \ud22c\uc790\ud558\uc5ec 1\ub144\ucc28 \ub9d0\uc5d0 $2,000, 2\ub144\ucc28 \ub9d0\uc5d0 $3,000, 3\ub144\ucc28 \ub9d0\uc5d0 $2,000\uc744 \ubc1b\ub294\ub2e4\uace0 \uac00\uc815\ud574 \ubcf4\uaca0\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ud750\ub984\uc744 IRR \uacf5\uc2dd\uc5d0 \ub300\uc785\ud558\uba74 \uc5f0\uac04 IRR\uc740 \uc57d 15%\uac00 \ub429\ub2c8\ub2e4.<\/p><p><b>\ud45c\uc2dc\ub418\ub294 \ub0b4\uc6a9<br \/><\/b>IRR\uc740 \uc2dc\uac04 \uc870\uc815 \uae30\uc900\uc73c\ub85c \ud22c\uc790 \uc218\uc775\uc131\uc744 \ubcf4\uc5ec\uc8fc\uae30 \ub54c\ubb38\uc5d0 \uc5ec\ub7ec \ud380\ub4dc \ub610\ub294 \ud22c\uc790 \uae30\ud68c\ub97c \ud3c9\uac00\ud558\ub294 LP\uc5d0\uac8c \uc720\uc6a9\ud55c \uc9c0\ud45c\uac00 \ub429\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6e97a6 elementor-widget elementor-widget-heading\" data-id=\"f6e97a6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2. \ub0a9\uc785 \uc790\ubcf8\uc5d0 \ub300\ud55c \ubd84\ubc30\uae08(DPI)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04ee383 elementor-widget elementor-widget-text-editor\" data-id=\"04ee383\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>\uc815\uc758 \ubc0f \uacf5\uc2dd<br \/><\/b>DPI\ub294 \ud22c\uc790\uc790\uac00 \uae30\uc5ec\ud55c \uae08\uc561\uc5d0 \ube44\ud574 \ud22c\uc790\uc790\uc5d0\uac8c \uc5bc\ub9c8\ub098 \ub9ce\uc740 \ud604\uae08\uc774 \ubc18\ud658\ub418\uc5c8\ub294\uc9c0\ub97c \uce21\uc815\ud569\ub2c8\ub2e4. \uacf5\uc2dd\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4:<\/p><p><em>DPI = \ub204\uc801 \ubd84\ubc30\uae08\/\ub0a9\uc785 \uc790\ubcf8\uae08<\/em><\/p><p><b>\uc911\uc694\ud55c \uc774\uc720<br \/><\/b>DPI\ub294 \uac00\uc7a5 \uad6c\uccb4\uc801\uc778 \uc9c0\ud45c \uc911 \ud558\ub098\ub85c, \ud22c\uc790\uc790\uc5d0\uac8c \ubc18\ud658\ub41c \uc2e4\uc81c \ud604\uae08\uc5d0 \ucd08\uc810\uc744 \ub9de\ucda5\ub2c8\ub2e4. DPI\uac00 1.0\uc744 \ub118\uc73c\uba74 \ud22c\uc790\uc790\uac00 \ucd5c\uc18c\ud55c \ucd08\uae30 \ud22c\uc790\uae08\uc744 \ub3cc\ub824\ubc1b\uc558\ub2e4\ub294 \ub73b\uc785\ub2c8\ub2e4.<\/p><p><b>\uc54c\uc544\ub450\uc5b4\uc57c \ud560 \uc0ac\ud56d<\/b><\/p><ul><li><b>\ud074\ub85c\ubc31 \uc870\ud56d:<\/b> \ub2e4\uc74c\uacfc \uac19\uc740 \uacbd\uc6b0 LP\ub97c \ubcf4\ud638\ud569\ub2c8\ub2e4. <b>\uacfc\ub3c4\ud55c \uc774\uc6d4 \uc774\uc790<\/b> \uac00 \uc870\uae30 \ubd84\ubc30\ub418\uc5c8\uc2b5\ub2c8\ub2e4. GP\ub294 \ucd5c\uc885 \uc131\uacfc\uac00 \ud2b9\uc815 \uc784\uacc4\uac12\uc744 \ucda9\uc871\ud558\uc9c0 \ubabb\ud560 \uacbd\uc6b0 \uc774\uc6d4 \uc774\uc790\uc758 \uc77c\ubd80\ub97c \ubc18\ud658\ud574\uc57c \ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>GP \uae30\ube0c\ubc31:<\/b> \ud380\ub4dc\uc758 \uc131\uacfc\uac00 \uc800\uc870\ud560 \uacbd\uc6b0, \uacf5\uc815\ud55c \ubd84\ubc30\ub97c \uc704\ud574 GP\ub294 \uc77c\ubd80 \uc218\uc775\uc744 \ubc18\ud658\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul><p><b>\uc608<\/b><br \/>\ud380\ub4dc\uac00 \ucd1d 1\uc5b5 4\ucc9c\ub9cc \ub2ec\ub7ec\ub97c \ud638\ucd9c\ud558\uace0 \uc2dc\uac04\uc774 \uc9c0\ub0a8\uc5d0 \ub530\ub77c 1\uc5b5 4\ucc9c 6\ubc31\ub9cc \ub2ec\ub7ec\ub97c LP\uc5d0\uac8c \ubc18\ud658\ud55c \uacbd\uc6b0, \ud574\ub2f9 \ud380\ub4dc\uc758 DPI\ub294 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4. <b>1.6x<\/b>.<\/p><p><b>\ud45c\uc2dc\ub418\ub294 \ub0b4\uc6a9<br \/><\/b>DPI\ub294 LP\uc758 \uc2e4\uc81c \uc790\uae08\uc744 \ubc18\uc601\ud558\ubbc0\ub85c \ud380\ub4dc\uc758 \uc131\uacf5 \uc5ec\ubd80\ub97c \ubc14\ub85c \ud655\uc778\ud560 \uc218 \uc788\ub294 \ucc99\ub3c4\uc785\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34f29b7 elementor-widget elementor-widget-heading\" data-id=\"34f29b7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3. \ub0a9\uc785 \uc790\ubcf8 \ub300\ube44 \ucd1d \uac00\uce58(TVPI)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a28568a elementor-widget elementor-widget-text-editor\" data-id=\"a28568a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>\uc815\uc758 \ubc0f \uacf5\uc2dd<br \/><\/b>TVPI\uc5d0\ub294 \uc2e4\ud604\ub41c \uc218\uc775\uacfc \ubbf8\uc2e4\ud604 \uc218\uc775\uc774 \ubaa8\ub450 \ud3ec\ud568\ub429\ub2c8\ub2e4:<\/p><p><em>TVPI = (\ud604\uc7ac NAV + \ucd1d \ubc30\ub2f9\uae08) \/ \ucd1d \ub0a9\uc785 \uc790\ubcf8\uae08<\/em><\/p><p><b>\uc911\uc694\ud55c \uc774\uc720<br \/><\/b>\ubd84\uc0b0\ub41c \ud604\uae08\uc5d0\ub9cc \ucd08\uc810\uc744 \ub9de\ucd94\ub294 DPI\uc640 \ub2ec\ub9ac TVPI\ub294 \ubbf8\uc2e4\ud604 \ud22c\uc790\ub85c \uc778\ud55c \uc7a0\uc7ac\uc801 \uc0c1\uc2b9 \uc5ec\ub825\uc744 \ud3ec\ud568\ud569\ub2c8\ub2e4. \ud380\ub4dc\uc758 \uc804\ubc18\uc801\uc778 \uc131\uacfc\ub97c \ub354 \ud3ed\ub113\uac8c \ud30c\uc545\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><p><b>\uc54c\uc544\ub450\uc5b4\uc57c \ud560 \uc0ac\ud56d<\/b><\/p><ul><li><b>\uc7ac\ud65c\uc6a9 \uc790\ubcf8:<\/b> \ud380\ub4dc\uac00 \ubd84\ubc30\uae08\uc744 \uc2e0\uaddc \ub610\ub294 \uae30\uc874 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ud68c\uc0ac\uc5d0 \uc7ac\ud22c\uc790\ud558\ub294 \uacbd\uc6b0, \uc774\ub7ec\ud55c \uc7ac\ud22c\uc790\ub294 \ubd84\ubaa8(NAV\ub97c \ub192\uc774\ub294 \uacbd\uc6b0)\uc640 \ubd84\ubaa8(\ub0a9\uc785 \uc790\ubcf8\uc744 \ub298\ub9ac\ub294 \uacbd\uc6b0) \ubaa8\ub450\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce69\ub2c8\ub2e4.<\/li><li><b>\ub2e8\uae30 \ub300 \uc7a5\uae30:<\/b> \ucd08\uae30\uc5d0 TVPI\uac00 \ub192\uc73c\uba74 \ub300\ubd80\ubd84 \uc11c\ub958\uc0c1 \uc218\uc775\uc77c \uc218 \uc788\uace0, TVPI\uac00 \ub0ae\uc73c\uba74 \uc544\uc9c1 \uc131\uc7a5 \ub2e8\uacc4\uc5d0 \uc788\ub294 \ud380\ub4dc\ub97c \uc801\uc808\ud788 \ubc18\uc601\ud558\uc9c0 \ubabb\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul><p><b>\uc608<\/b><br \/>\ud380\ub4dc\uc758 \ud604\uc7ac \uc21c\uc790\uc0b0\uac00\uce58(NAV)\uac00 1\uc5b5 4\ucc9c\ub9cc \uc6d0\uc774\uace0 \ucd1d 1\uc5b5 4\ucc9c\ub9cc \uc6d0\uc744 \ucd9c\uc790\ud55c \uc0c1\ud0dc\uc5d0\uc11c \uc774\ubbf8 1\uc5b5 4\ucc9c\ub9cc \uc6d0\uc744 LP\uc5d0\uac8c \ubd84\ubc30\ud55c \uacbd\uc6b0, TVPI\ub294 1\uc5b5 4\ucc9c\ub9cc \uc6d0\uc774 \ub429\ub2c8\ub2e4:\u00a0<\/p><p><em>TVPI=(100+60)100=1.6xTVPI=100(100+60) =1.6x<\/em><\/p><p><b>\ud45c\uc2dc\ub418\ub294 \ub0b4\uc6a9<br \/><\/b>TVPI\ub294 LP\uac00 \uc774\ubbf8 \ubc1b\uc740 \uc218\uc775\uacfc \ud380\ub4dc \ud3ec\ud2b8\ud3f4\ub9ac\uc624\uc5d0 \ub0a8\uc544 \uc788\ub294 \ubbf8\ub798 \uc7a0\uc7ac\ub825\uc744 \ubaa8\ub450 \uce21\uc815\ud558\ub294 \ub370 \ub3c4\uc6c0\uc774 \ub429\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-00697ae elementor-widget elementor-widget-heading\" data-id=\"00697ae\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">4. \ub0a9\uc785 \uc790\ubcf8 \ub300\ube44 \uc794\uc874 \uac00\uce58(RVPI)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ed91de elementor-widget elementor-widget-text-editor\" data-id=\"0ed91de\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>\uc815\uc758 \ubc0f \uacf5\uc2dd<br \/><\/b>RVPI\ub294 \ubbf8\uc2e4\ud604 \uc218\uc775\ub960, \uc989 \u201c\uc11c\ub958\uc0c1\u201d \uc218\uc775\uc744 \uce21\uc815\ud569\ub2c8\ub2e4:<\/p><p><em>RVPI = \uc21c\uc790\uc0b0\uac00\uce58(NAV)\/\ub0a9\uc785\uc790\ubcf8\uae08<\/em><\/p><p><i>(\uc77c\ubd80 \ucd9c\ucc98\uc5d0\uc11c\ub294 \uacf5\uc2dd\uc744 \ubc18\ub300\ub85c \uc81c\uc2dc\ud558\uc9c0\ub9cc \uac1c\ub150\uc740 \ub3d9\uc77c\ud558\uac8c \uc720\uc9c0\ub429\ub2c8\ub2e4.)<\/i><\/p><p><b>\uc911\uc694\ud55c \uc774\uc720<br \/><\/b>RVPI\ub294 \ud380\ub4dc\uc758 \ud22c\uc790\uae08 \uc911 \uc544\uc9c1 \uc2e4\ud604\ub418\uc9c0 \uc54a\uc740 \ubd80\ubd84\uc744 \uac15\uc870\ud569\ub2c8\ub2e4. LP\ub294 \uc774\ub97c \uc0ac\uc6a9\ud558\uc5ec \ud65c\uc131 \ub610\ub294 \ubd80\ubd84 \uc5d1\uc2dc\ud2b8 \ud3ec\uc9c0\uc158\uc5d0 \uc5bc\ub9c8\ub098 \ub9ce\uc740 \uac00\uce58\uac00 \uc5ec\uc804\ud788 \ubb36\uc5ec \uc788\ub294\uc9c0 \ud30c\uc545\ud569\ub2c8\ub2e4.<\/p><p><b>\uc54c\uc544\ub450\uc5b4\uc57c \ud560 \uc0ac\ud56d<\/b><\/p><ul><li><b>\ucd08\uae30\uc640 \ud6c4\uae30:<\/b> \ud380\ub4dc \uc124\uc815 \ucd08\uae30\uc5d0\ub294 \ub300\ubd80\ubd84\uc758 \uc790\ubcf8\uc774 \uc544\uc9c1 \uc2e4\ud604\ub418\uc9c0 \uc54a\uc740 \ucc44\ub85c \ub0a8\uc544 \uc788\uae30 \ub54c\ubb38\uc5d0 RVPI\uac00 \ub192\uc740 \uacbd\ud5a5\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ud380\ub4dc\uc758 \ub77c\uc774\ud504\uc0ac\uc774\ud074\uc774 \uc0c1\ub2f9\ud788 \uc9c4\ud589\ub41c \ud6c4\uc5d0\ub3c4 RVPI\uac00 \ub192\uac8c \uc720\uc9c0\ub41c\ub2e4\uba74, \uc774\ub294 \ud22c\uc790\uae08 \ud68c\uc218\uac00 \ub354\ub514\ub2e4\ub294 \uc2e0\ud638\uc77c \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\uac00\uce58 \ud3c9\uac00 \ubc29\ubc95\ub860:<\/b> RVPI\ub294 \ub2e4\uc74c\uc5d0 \ub530\ub77c \ub2ec\ub77c\uc9c0\ubbc0\ub85c <b>\uc21c\uc790\uc0b0 \uac00\uce58<\/b>, \ub294 GP\uac00 \uae30\ubcf8 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \uae30\uc5c5\uc744 \uc5b4\ub5bb\uac8c \ud3c9\uac00\ud558\ub294\uc9c0\uc5d0 \ub530\ub77c \ub2ec\ub77c\uc9d1\ub2c8\ub2e4. \ubcf4\uc218\uc801 \uac00\uce58 \ud3c9\uac00\uc640 \uacf5\uaca9\uc801 \uac00\uce58 \ud3c9\uac00\ub294 \uc774 \uc218\uce58\uc5d0 \ud070 \uc601\ud5a5\uc744 \ubbf8\uce60 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul><p><b>\uc608<\/b><br \/>LP\uac00 1\uc5b5 4,500\ub9cc \uc6d0\uc744 \ucd9c\uc790\ud558\uace0 \ud380\ub4dc\uc758 NAV\uac00 1\uc5b5 4,500\ub9cc \uc6d0\uc778 \uacbd\uc6b0, RVPI\ub294 2.0\ubc30\ub85c \ucd9c\uc790\ud55c \uc790\ubcf8\uc758 2\ubc30\uac00 \uc544\uc9c1 \uc11c\ub958\uc0c1\uc73c\ub85c \ub0a8\uc544\uc788\uc74c\uc744 \ub098\ud0c0\ub0c5\ub2c8\ub2e4.<\/p><p><b>\ud45c\uc2dc\ub418\ub294 \ub0b4\uc6a9<br \/><\/b>RVPI\ub294 \ud22c\uc790\uc790\uc5d0\uac8c \uc544\uc9c1 \ud22c\uc790\ub41c \uc790\ubcf8\uc774 \uc5bc\ub9c8\ub098 \ub0a8\uc544 \uc788\ub294\uc9c0\uc5d0 \ub300\ud55c \uc778\uc0ac\uc774\ud2b8\ub97c \uc81c\uacf5\ud569\ub2c8\ub2e4. \uc774\ub294 \ud5a5\ud6c4 \uc7a0\uc7ac\uc801\uc778 \uc5d1\uc2dc\ud2b8 \ubc0f \ubd84\ubc30\ub97c \uc54c\ub824\uc90d\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6868aaa elementor-widget elementor-widget-heading\" data-id=\"6868aaa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">5. \ud22c\uc790 \uc790\ubcf8\uc5d0 \ub300\ud55c \ubc30\uc218(MOIC)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d7577e elementor-widget elementor-widget-text-editor\" data-id=\"1d7577e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>\uc815\uc758 \ubc0f \uacf5\uc2dd<br \/><\/b>MOIC\ub294 \uc6d0\ub798 \ud22c\uc790\uae08\uc758 \uba87 \ubc30\uc758 \uc218\uc775\uc774 \ubc1c\uc0dd\ud588\ub294\uc9c0 \uce21\uc815\ud569\ub2c8\ub2e4:<\/p><p><i>MOIC = \ucd1d \uac00\uce58 \/ \ud22c\uc790 \uc790\ubcf8<\/i><\/p><p><b>\uc911\uc694\ud55c \uc774\uc720<br \/><\/b>MOIC\ub294 \uc218\uc775\ub960\uc5d0 \ub300\ud55c \uac04\ub2e8\ud55c \uc2a4\ub0c5\uc0f7\uc73c\ub85c, \ud3ec\ud2b8\ud3f4\ub9ac\uc624\uc758 \uac1c\ubcc4 \uac70\ub798\ub97c \ube44\uad50\ud560 \ub54c \ud2b9\ud788 \uc720\uc6a9\ud569\ub2c8\ub2e4. \ucd1d(\uc218\uc218\ub8cc \uc81c\uc678) \ubc0f \uc21c(\uc218\uc218\ub8cc \ud3ec\ud568) MOIC\ub85c \uad6c\ubd84\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><p><b>\uc54c\uc544\ub450\uc5b4\uc57c \ud560 \uc0ac\ud56d<\/b><\/p><ul><li><b>\ub3c8\uc758 \uc2dc\uac04 \uac00\uce58:<\/b> MOIC\ub294 \uc2dc\uac04 \uc694\uc778\uc744 \uace0\ub824\ud558\uc9c0 \uc54a\uc73c\ubbc0\ub85c 2\ub144 \ub9cc\uc5d0 \ub2ec\uc131\ud55c 3.0\ubc30\uc218\ub294 10\ub144\uc5d0 \uac78\uccd0 \ub2ec\uc131\ud55c 3.0\ubc30\uc218\uc640 \ud070 \ucc28\uc774\uac00 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\uc2e4\ud604\ub418\uc9c0 \uc54a\uc740 \uac00\uce58:<\/b> MOIC\uc5d0\ub294 \ud65c\uc131 \ud22c\uc790\uc5d0 \ub300\ud55c \ud3c9\uac00\uac00 \ud3ec\ud568\ub420 \uc218 \uc788\uc73c\ubbc0\ub85c NAV\uac00 \ubd80\uc815\ud655\ud560 \uacbd\uc6b0 \uacb0\uacfc\uac00 \uc65c\uace1\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul><p><b>\uc608<\/b><br \/>\uc2a4\ud0c0\ud2b8\uc5c5\uc5d0 $50,000\uc744 \ud22c\uc790\ud558\uace0 \ud604\uc7ac \uac00\uce58\uc5d0 \ubd84\ubc30\uae08\uc744 \ub354\ud55c \uae08\uc561\uc774 $150,000\uc778 \uacbd\uc6b0 MOIC\ub294 3.0\ubc30\uc785\ub2c8\ub2e4.<\/p><p><b>\ud45c\uc2dc\ub418\ub294 \ub0b4\uc6a9<br \/><\/b>MOIC\ub294 \uc5b4\ub5a4 \ud22c\uc790\uac00 \uac00\uc7a5 \ub192\uc740 \uc218\uc775\uc744 \ub0b4\ub294\uc9c0 \uc2e0\uc18d\ud558\uac8c \ubc18\uc601\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \uc131\uacfc\uc5d0 \ub300\ud55c \uc644\uc804\ud55c \ubcf4\uae30\ub97c \uc81c\uacf5\ud558\ub824\uba74 IRR\uacfc \uac19\uc740 \uc2dc\uac04\uc5d0 \ubbfc\uac10\ud55c \uc9c0\ud45c\uc640 \ud568\uaed8 \uc0ac\uc6a9\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-228b697 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"228b697\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e0431ad\" data-id=\"e0431ad\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3872eff elementor-widget elementor-widget-heading\" data-id=\"3872eff\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\ud380\ub4dc \ub77c\uc774\ud504\uc0ac\uc774\ud074 \uc804\ubc18\uc758 \ud380\ub4dc \uc131\uacfc \uc9c0\ud45c<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e6183e elementor-widget elementor-widget-heading\" data-id=\"2e6183e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">J \uace1\uc120 \ud6a8\uacfc<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7cbb1f4 elementor-widget elementor-widget-text-editor\" data-id=\"7cbb1f4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In <b>\uc0ac\ubaa8 \ud380\ub4dc<\/b> \uadf8\ub9ac\uace0 <b>\ubca4\ucc98 \uce90\ud53c\ud0c8<\/b>, \ud380\ub4dc\ub294 \uc124\uc815 \ube44\uc6a9\uacfc \ube44\uc0dd\uc0b0\uc801\uc778 \uc790\ubcf8 \uc9c0\ucd9c\ub85c \uc778\ud574 \ucc98\uc74c\uc5d0\ub294 \uc218\uc775\ub960\uc774 \ub9c8\uc774\ub108\uc2a4\ub97c \ubcf4\uc774\ub2e4\uac00 \uc131\uacf5\ud558\uba74 \ub098\uc911\uc5d0\ub294 \uc0c1\uc2b9 \ucd94\uc138\ub97c \ubcf4\uc774\ub294 \u201cJ \uace1\uc120'\uc744 \ubcf4\uc774\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4.<\/p><p><b>1~4\ud559\ub144 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \uad6c\ucd95<\/b><\/p><ul><li><b>\ub9c8\uc774\ub108\uc2a4 \uc870\uae30 \uc218\uc775\ub960<\/b>: \ucc98\uc74c \uba87 \ub144 \ub3d9\uc548 \ud380\ub4dc\uc5d0\ub294 \uad00\ub9ac \uc218\uc218\ub8cc, \ubc95\ub960 \uc218\uc218\ub8cc, \uc2e4\uc0ac \ube44\uc6a9\uc774 \ubc1c\uc0dd\ud569\ub2c8\ub2e4.<\/li><li><b>\ubcf4\uc218\uc801 \uac00\uce58 \ud3c9\uac00<\/b>: \ucd08\uae30 \ub2e8\uacc4\uc758 \ud22c\uc790\ub294 \uc131\uacfc\uac00 \uc989\uc2dc \ub4dc\ub7ec\ub098\uc9c0 \uc54a\uc744 \uacbd\uc6b0 \uae30\ub85d\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\uc601\ud5a5\uc744 \ubc1b\ub294 \uba54\ud2b8\ub9ad<\/b>:<ul><li>IRR: \uc885\uc885 \uc74c\uc218\uc778 \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4.<\/li><li>DPI: \ucd9c\uad6c\uac00 \uc544\uc9c1 \ubc1c\uc0dd\ud558\uc9c0 \uc54a\uc558\uc73c\ubbc0\ub85c \uc77c\ubc18\uc801\uc73c\ub85c 0\uc785\ub2c8\ub2e4.<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6cd6dd elementor-widget elementor-widget-text-editor\" data-id=\"f6cd6dd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>4~7\ub144\ucc28: \uac00\uce58 \ucc3d\ucd9c<\/b><\/p><ul><li><b>\uc6b4\uc601 \uac1c\uc120 \uc0ac\ud56d<\/b>: \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ud68c\uc0ac\uac00 \uc131\uc219\ud574\uc9c0\uae30 \uc2dc\uc791\ud558\uc5ec \ub354 \ub192\uc740 \ubc38\ub958\uc5d0\uc774\uc158\uc73c\ub85c \uc0c8\ub85c\uc6b4 \ub77c\uc6b4\ub4dc\ub97c \uc9c4\ud589\ud569\ub2c8\ub2e4.<\/li><li><b>\uc870\uae30 \uc885\ub8cc<\/b>: \uc77c\ubd80 \uc131\uacf5\uc801\uc778 \ud22c\uc790\ub294 \uc218\uc775\uc744 \uc704\ud574 \ub9e4\uac01\ub418\uc5b4 \ubd84\ubc30\uae08\uc744 \ub298\ub9b4 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li><b>\uc601\ud5a5\uc744 \ubc1b\ub294 \uba54\ud2b8\ub9ad<\/b>:<ul><li>TVPI: NAV\uc640 \ucd08\uae30 \ubc30\ud3ec\uac00 \uc99d\uac00\ud568\uc5d0 \ub530\ub77c \uc0c1\uc2b9\ud558\uae30 \uc2dc\uc791\ud558\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4.<\/li><li>DPI: \uc2e4\ud604\ub41c \uc218\uc775\uc774 \ub4e4\uc5b4\uc624\uae30 \uc2dc\uc791\ud558\uba74 0\uc5d0\uc11c \uba40\uc5b4\uc9d1\ub2c8\ub2e4.<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-834cb24 elementor-widget elementor-widget-text-editor\" data-id=\"834cb24\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>8\uc138 \uc774\uc0c1: \uc2e4\ud604\uacfc \uc218\ud655<\/b><\/p><ul><li><b>\uc911\uc694\ud55c \ucd9c\uad6c<\/b>: \uae30\uc5c5\uc774 \ub9cc\uae30\uac00 \ub418\uac70\ub098, \uc778\uc218\ub418\uac70\ub098, \uae30\uc5c5 \uacf5\uac1c\ub97c \ud1b5\ud574 \ud604\uae08\uc73c\ub85c \uc804\ud658\ub418\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4.<\/li><li><b>\ucd08\uae30 \ubc38\ub958\uc5d0\uc774\uc158 \uac80\uc99d<\/b>: \uc5d1\uc2dc\ud2b8\uac00 \uc2e4\ud604\ub418\uba74 \ud574\ub2f9 \uac70\ub798\uc5d0 \ub300\ud55c IRR\uc774 \ud655\uc815\ub429\ub2c8\ub2e4.<\/li><li><b>\uc601\ud5a5\uc744 \ubc1b\ub294 \uba54\ud2b8\ub9ad<\/b>:<ul><li>DPI: \ubc18\ud658\ub41c \uc790\ubcf8\uc758 \uc591\uc744 \ubc18\uc601\ud558\ub294 \uc911\uc559 \uc9c0\ud45c\uc785\ub2c8\ub2e4.<\/li><li>IRR: \ud380\ub4dc\uc758 \uc131\uacf5\uc774 \uc2e4\ud328\ubcf4\ub2e4 \ud06c\uba74 IRR\uc740 \uc0c1\uc2b9 \ucd94\uc138\ub97c \ubcf4\uc774\uac70\ub098 \uc548\uc815\ud654\ub429\ub2c8\ub2e4.<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fad642d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fad642d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6230872\" data-id=\"6230872\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c1f770b elementor-widget elementor-widget-heading\" data-id=\"c1f770b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\ud380\ub4dc \uc131\uacfc \uc9c0\ud45c\ub97c LP\uc5d0\uac8c \uc804\ub2ec\ud560 \ub54c\uc758 \ubaa8\ubc94 \uc0ac\ub840<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98883b0 elementor-widget elementor-widget-heading\" data-id=\"98883b0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\ub9e5\ub77d\uacfc \ub0b4\ub7ec\ud2f0\ube0c \uc81c\uacf5<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0519ec elementor-widget elementor-widget-text-editor\" data-id=\"c0519ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif;\"><b>\ud380\ub4dc \uc131\uacfc \uc9c0\ud45c<\/b><\/span><span style=\"color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\"> \ub9cc\uc73c\ub85c\ub294 \ubaa8\ub4e0 \uc774\uc57c\uae30\ub97c \uc54c \uc218 \uc5c6\uc2b5\ub2c8\ub2e4. \ud56d\uc0c1 IRR \ub610\ub294 TVPI\uc758 \ubcc0\ud654\ub97c \uc2e4\uc81c \uc774\ubca4\ud2b8\uc640 \uc5f0\uacb0\ud558\uc138\uc694:<\/span><\/p><p><em>\u201c\uc774\ubc88 \ubd84\uae30\uc5d0\ub294 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ud68c\uc0ac A\uc758 \uc131\uacf5\uc801\uc778 \uc2dc\ub9ac\uc988 C \ub77c\uc6b4\ub4dc\uc640 \uc5d4\ud130\ud504\ub77c\uc774\uc988 \uc18c\ud504\ud2b8\uc6e8\uc5b4 \ubcf4\uc720 \uae30\uc5c5 \uc804\ubc18\uc758 \uac15\ub825\ud55c \ub9e4\ucd9c \uc131\uc7a5\uc73c\ub85c \uc778\ud574 IRR\uc774 221%\uae4c\uc9c0 \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4.\u201d<\/em><\/p><p>\uc774\ub294 \uc22b\uc790\ub97c \ub118\uc5b4 \uc131\uacfc\uc5d0 \ub300\ud55c \uadfc\ubcf8\uc801\uc778 \ub3d9\uc778\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4. \uc774\ub97c \ud1b5\ud574 LP\ub294 \uc774\ub7ec\ud55c \uc218\uc775\uc758 \uc9c0\uc18d \uac00\ub2a5\uc131\uc744 \ud3c9\uac00\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7cc5eea elementor-widget elementor-widget-heading\" data-id=\"7cc5eea\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\uc5ec\ub7ec \uae30\ubc18 \uba54\ud2b8\ub9ad\uc744 \ud568\uaed8 \uc0ac\uc6a9<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8be7b45 elementor-widget elementor-widget-text-editor\" data-id=\"8be7b45\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uacf5\uc720 <b>TVPI, DPI \ubc0f RVPI<\/b> \ud568\uaed8:<\/p><p><em>\u201c\uc774\ubc88 \ubd84\uae30 \ud380\ub4dc\uc758 TVPI\ub294 2.1\ubc30\ub85c, DPI 0.8\ubc30\uc640 RVPI 1.3\ubc30\ub85c \uad6c\uc131\ub418\uc5b4 \uc788\uc2b5\ub2c8\ub2e4. \ubbf8\uc2e4\ud604 \ubd80\ubd84\uc740 \ud5a5\ud6c4 12~18\uac1c\uc6d4 \ub3d9\uc548 \ud6c4\uae30 \ub2e8\uacc4 \uae30\uc5c5\uc774 \uc5d1\uc2dc\ud2b8\uc5d0 \ub3c4\ub2ec\ud568\uc5d0 \ub530\ub77c \ubd84\ubc30\uae08\uc73c\ub85c \uc804\ud658\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ud569\ub2c8\ub2e4.\u201d<\/em><\/p><p>\uc774\ub97c \ud1b5\ud574 LP\ub294 \uc774\ubbf8 \uc2e4\ud604\ub41c \uc0ac\ud56d\uacfc \uc544\uc9c1 \uc2e4\ud604\ub418\uc9c0 \uc54a\uc740 \uc0ac\ud56d\uc744 \ubcf4\ub2e4 \uba85\ud655\ud558\uac8c \ud30c\uc545\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f385261 elementor-widget elementor-widget-heading\" data-id=\"f385261\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\uc2dc\uac04 \uacbd\uacfc\uc5d0 \ub530\ub978 \uc131\ub2a5 \ucee8\ud14d\uc2a4\ud2b8\ud654<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5b439b elementor-widget elementor-widget-text-editor\" data-id=\"f5b439b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc131\ub2a5\uc774 \uc9c4\ud654\ud569\ub2c8\ub2e4. LP\uc5d0\uac8c \uacfc\uac70 \ud0c0\uc784\ub77c\uc778\uc744 \ubcf4\uc5ec\uc8fc\uc138\uc694:<\/p><p><em>\u201c\uc774\ubc88 \ubd84\uae30\uc5d0 TVPI\ub294 1.8\ubc30\uc5d0\uc11c 2.1\ubc30\ub85c \uc99d\uac00\ud588\ub294\ub370, \uc774\ub294 A\uc0ac\uc758 1\uc5b5 4\ucc9c\ub9cc \ub2ec\ub7ec \ud22c\uc790 \uc720\uce58(DPI\uc5d0 0.2\ubc30 \ucd94\uac00)\uc640 B\uc0ac\uc758 \uc2dc\ub9ac\uc988 D \ud22c\uc790 \uc720\uce58(RVPI\uc5d0 0.1\ubc30 \ucd94\uac00)\ub77c\ub294 \ub450 \uac00\uc9c0 \uc694\uc778\uc5d0 \ud798\uc785\uc740 \uacb0\uacfc\uc785\ub2c8\ub2e4.\u201d<\/em><\/p><p>\uac1c\uc120 \uc0ac\ud56d\uc744 \ud2b9\uc815 \uc774\ubca4\ud2b8 \ub610\ub294 \uc6b4\uc601 \uac1c\uc120 \uc0ac\ud56d\uacfc \uc5f0\uacb0\ud558\uba74 \uc218\uc775\ub960\uc744 \ub192\uc774\ub294 \ub370 \uc788\uc5b4 \ud300\uc758 \uc801\uadf9\uc801\uc778 \uc5ed\ud560\uc744 \ubcf4\uc5ec\uc904 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-abe6374 elementor-widget elementor-widget-heading\" data-id=\"abe6374\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\uc131\uacfc \uc5b4\ud2b8\ub9ac\ubdf0\uc158 \ubd84\uc11d<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49c0937 elementor-widget elementor-widget-text-editor\" data-id=\"49c0937\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>LP\ub294 \uc218\uc775\uc758 \ucd9c\ucc98\ub97c \ubcf4\uc5ec\uc8fc\ub294 \uae30\uc5ec\ub3c4 \ubd84\uc11d\uc744 \ub192\uc774 \ud3c9\uac00\ud569\ub2c8\ub2e4:<\/p><ol><li><b>\uc6b4\uc601 \uac00\uce58 \ucc3d\ucd9c:<\/b> \ub9c8\uc9c4 \uac1c\uc120, \uc2dc\uc7a5 \uc810\uc720\uc728 \uc99d\uac00.<\/li><li><b>\uc2e4\ud589\uc744 \uc885\ub8cc\ud569\ub2c8\ub2e4:<\/b> \uc5d1\uc2dc\ud2b8 \uac00\uce58\ub97c \uadf9\ub300\ud654\ud558\ub294 M&amp;A \ub610\ub294 IPO \uc804\ub7b5.<\/li><li><b>\uc2dc\uc7a5 \ud3ec\uc9c0\uc154\ub2dd:<\/b> \uad11\ubc94\uc704\ud55c \uc5c5\uacc4 \ud2b8\ub80c\ub4dc \ub610\ub294 \ub354 \ub192\uc740 \ubc30\uc218\uc758 \ud61c\ud0dd\uc744 \ub204\ub9b4 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-12de357 elementor-widget elementor-widget-text-editor\" data-id=\"12de357\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><em>\u201c\ud604\uc7ac 2.1\ubc30\uc758 TVPI \uc911 0.8\ubc30\ub294 \uc8fc\uc694 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ud68c\uc0ac\uc758 \uc9c1\uc811\uc801\uc778 \uc6b4\uc601 \uac1c\uc120\uc5d0\uc11c, 0.7\ubc30\ub294 \uc804\ub7b5\uc801 \uc5d1\uc2dc\ud2b8\uc5d0\uc11c, 0.6\ubc30\ub294 \ud06c\uac8c \uc131\uc7a5\ud55c \uc5d4\ud130\ud504\ub77c\uc774\uc988 \uc18c\ud504\ud2b8\uc6e8\uc5b4\uc5d0 \uc9d1\uc911\ud55c \uacb0\uacfc\uc785\ub2c8\ub2e4.\u201d <\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91a3b6e elementor-widget elementor-widget-heading\" data-id=\"91a3b6e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">\uc77c\uad00\ub41c \ubcf4\uace0 \ube48\ub3c4 \uc124\uc815<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e111e1 elementor-widget elementor-widget-text-editor\" data-id=\"8e111e1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc815\uae30\uc801\uc774\uace0 \uc2dc\uae30\uc801\uc808\ud55c \ubcf4\uace0\ub294 \uc2e0\ub8b0\ub97c \uad6c\ucd95\ud569\ub2c8\ub2e4. \uc608\ub97c \ub4e4\uc5b4<\/p><p><em>\u201c\ubd84\uae30 \uc885\ub8cc \ud6c4 45\uc77c \uc774\ub0b4\uc5d0 \ubd84\uae30\ubcc4 \uc131\uacfc \uc5c5\ub370\uc774\ud2b8\ub97c \ubc1c\ud589\ud558\uc5ec IRR, TVPI, DPI \ubc0f RVPI\uc758 \ubcc0\ud654\ub97c \uc790\uc138\ud788 \uc124\uba85\ud569\ub2c8\ub2e4. \uc8fc\uc694 \uc5d1\uc2dc\ud2b8 \ub610\ub294 \ud380\ub529 \uc774\ubca4\ud2b8\uac00 \ubc1c\uc0dd\ud558\uba74 \uc911\uac04 \uc5c5\ub370\uc774\ud2b8\ub97c \uac8c\uc2dc\ud558\uc5ec \uc2e4\uc2dc\uac04\uc73c\ub85c \uc815\ubcf4\ub97c \uc81c\uacf5\ud569\ub2c8\ub2e4.\u201d<\/em><\/p><p>\uc2e0\uc18d\ud558\uace0 \uc608\uce21 \uac00\ub2a5\ud55c \ucee4\ubba4\ub2c8\ucf00\uc774\uc158\uc740 LP\uac00 \uc790\uccb4\uc801\uc778 \ud604\uae08 \ud750\ub984\uacfc \ud22c\uc790 \uc804\ub7b5\uc744 \uacc4\ud68d\ud558\ub294 \ub370 \ub3c4\uc6c0\uc774 \ub429\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-923fa96 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"923fa96\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b26996\" data-id=\"3b26996\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7ff2237 elementor-widget elementor-widget-heading\" data-id=\"7ff2237\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\ud380\ub4dc \uc131\uacfc \uc9c0\ud45c \ubcf4\uace0\uc758 \uc77c\ubc18\uc801\uc778 \uacfc\uc81c<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3fec2e3 elementor-widget elementor-widget-text-editor\" data-id=\"3fec2e3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ol><li><b>\ub370\uc774\ud130 \uc815\ud655\uc131 \ubc0f \uc77c\uad00\uc131 <\/b><ul><li>IRR \uacc4\uc0b0\uc744 \uc704\ud55c \uc815\ud655\ud55c \uc2dc\uae30\uc640 \ud604\uae08 \ud750\ub984\uc758 \uc591\uc744 \ud655\ubcf4\ud558\ub294 \uac83\uc740 \ubcf5\uc7a1\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li>\uc7a6\uc740 \uc5c5\ub370\uc774\ud2b8\ub294 \uc5ec\ub7ec \ubc84\uc804\uc758 \uc131\ub2a5 \ub370\uc774\ud130\ub97c \uc758\ubbf8\ud569\ub2c8\ub2e4. \ubc84\uc804 \uad00\ub9ac\ub97c \uc704\ud55c \uc548\uc815\uc801\uc778 \uc2dc\uc2a4\ud15c\uc744 \uac16\ucd94\ub294 \uac83\uc774 \uc911\uc694\ud569\ub2c8\ub2e4.<\/li><\/ul><\/li><li><b>\uc131\ub2a5 \uc815\ubcf4\uc758 \uc548\uc804\ud55c \ubc30\ud3ec <\/b><ul><li>\ud68c\uc758 <b>\uaddc\uc815 \uc900\uc218 \uc694\uad6c \uc0ac\ud56d<\/b> \ub294 \uac01 LP\uc758 \ub370\uc774\ud130\uc640 \uae30\ubcf8 \ubb38\uc11c\uc758 \ud504\ub77c\uc774\ubc84\uc2dc\ub97c \ubcf4\uc7a5\ud558\ub294 \uac83\uc744 \uc758\ubbf8\ud569\ub2c8\ub2e4.<\/li><li>\uc774\ud574\uad00\uacc4\uc790\ub9c8\ub2e4 \uad8c\ud55c \uc218\uc900\uc774 \ub2e4\ub97c \uc218 \uc788\uc73c\ubbc0\ub85c \uac15\ub825\ud55c \uad8c\ud55c \uad6c\uc870\uac00 \ud544\uc218\uc801\uc785\ub2c8\ub2e4.<\/li><\/ul><\/li><li><b>\uc2e4\uc2dc\uac04 \uc131\ub2a5 \uc5c5\ub370\uc774\ud2b8 <\/b><ul><li>LP\uac00 \uc810\uc810 \ub354 \uc6d0\ud558\ub294 \uac83 <b>\uc989\uac01\uc801\uc778 \uc5c5\ub370\uc774\ud2b8<\/b> \uc8fc\uc694 \ud1f4\ucd9c \ub610\ub294 \uac00\uce58 \ubcc0\ub3d9\uc5d0 \ub530\ub77c.<\/li><li>\uc2e4\uc2dc\uac04 \ub370\uc774\ud130\ub294 \uc911\uc559 \uc9d1\uc911\uc2dd \ub300\uc2dc\ubcf4\ub4dc\ub098 \uc790\ub3d9\ud654\ub41c \uc54c\ub9bc\uc774 \uc5c6\uc73c\uba74 \uad00\ub9ac\ud558\uae30 \uc5b4\ub824\uc6b8 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-af51a98 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af51a98\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-753ebe8\" data-id=\"753ebe8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2dd9f9e elementor-widget elementor-widget-heading\" data-id=\"2dd9f9e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\ub514\uc9c0\ud30c\uc774\uc758 \uc9c0\uc6d0 \ubc29\ubc95<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-254c74a elementor-widget elementor-widget-text-editor\" data-id=\"254c74a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc0ac\uc6a9 <b>\uc548\uc804\ud55c \ub370\uc774\ud130\ub8f8<\/b> \ub610\ub294 <b>\ud1b5\ud569 \ud22c\uc790\uc790 \ubcf4\uace0 \ud50c\ub7ab\ud3fc<\/b> \uc640 \uac19\uc740 \uc194\ub8e8\uc158\uc740 \uc77c\uad00\ub41c \uc2e4\uc2dc\uac04 \uc131\ub2a5 \uba54\ud2b8\ub9ad\uc744 \uc81c\uacf5\ud558\ub294 \ubcf5\uc7a1\ud55c \uc791\uc5c5\uc744 \uac04\uc18c\ud654\ud569\ub2c8\ub2e4. \ubc29\ubc95\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d137891 elementor-widget elementor-widget-text-editor\" data-id=\"d137891\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ol><li><b>\ud1b5\ud569 \ud22c\uc790\uc790 \ubcf4\uace0 \ud50c\ub7ab\ud3fc <\/b><ul><li>\ud2b8\ub799 <b>IRR, TVPI, DPI, RVPI \ubc0f MOIC<\/b> \ub97c \ud55c \uacf3\uc5d0\uc11c \ud655\uc778\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><li>\uc624\ud37c <b>\uc815\uae30 \uc54c\ub9bc<\/b> \ub97c \ud1b5\ud574 LP\ub294 \uc8fc\uc694 \ucd9c\uc790 \uc774\ubca4\ud2b8\ub098 \ubc30\ud3ec\uc5d0 \ub300\ud55c \uc0ac\uc804 \uc54c\ub9bc\uc744 \ubc1b\uc744 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li><\/ul><\/li><li><b>\uc9c4\uc2e4\uc758 \ub2e8\uc77c \uc18c\uc2a4 <\/b><ul><li>\uac01 \uba54\ud2b8\ub9ad\uc5d0 \ub300\ud574 \ud558\ub098\uc758 \uba85\ud655\ud55c \ubc84\uc804\uc744 \uc720\uc9c0\ud558\uc5ec \ud63c\ub780\uc744 \uc5c6\uc560\uc138\uc694.<\/li><li>\uc790\uc138\ud55c <b>\uac10\uc0ac \ucd94\uc801<\/b> \uaddc\uc815 \uc900\uc218\ub97c \ubcf4\uc7a5\ud558\ub294 \ub370 \ud544\uc218\uc801\uc778 \ubaa8\ub4e0 \ubb38\uc11c \uac1c\uc815\uc5d0 \ub300\ud55c \uc815\ubcf4\ub97c \uc81c\uacf5\ud569\ub2c8\ub2e4.<\/li><\/ul><\/li><li><b>\ubc84\uc804 \uad00\ub9ac <\/b><ul><li>\uc774\uc804 \ubc84\uc804\uc774 \uc720\ud3ec\ub420 \uc704\ud5d8 \uc5c6\uc774 \ud504\ub808\uc820\ud14c\uc774\uc158 \uc790\ub8cc\ub098 \uc131\uacfc \ubcf4\uace0\uc11c\ub97c \uc5c5\ub370\uc774\ud2b8\ud558\uc138\uc694.<\/li><li>\ub2e4\uc74c\uacfc \uac19\uc740 \uc8fc\uc694 \uba54\ud2b8\ub9ad\uc744 \ub17c\uc758\ud560 \ub54c \uba85\ud655\uc131\uacfc \uc77c\uad00\uc131\uc744 \uc81c\uacf5\ud558\uc138\uc694. <b>\ud380\ub4dc \uc131\uacfc<\/b> \uc2dc\uac04\uc774 \uc9c0\ub0a8\uc5d0 \ub530\ub77c \ubcc0\uacbd\ub429\ub2c8\ub2e4.<\/li><\/ul><\/li><li><b>\uc138\ubd84\ud654\ub41c \uc561\uc138\uc2a4 \uc81c\uc5b4 <\/b><ul><li>\uac01 \uc774\ud574\uad00\uacc4\uc790\uac00 \uad00\ub828 \uc131\uacfc \ub370\uc774\ud130\uc640 \uae30\ubcf8 \uae30\ub85d\ub9cc \ubcfc \uc218 \uc788\ub3c4\ub85d LP \ub610\ub294 \uadf8\ub8f9\ubcc4\ub85c \uad8c\ud55c\uc744 \uc124\uc815\ud558\uc138\uc694.<\/li><\/ul><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b57228d elementor-widget elementor-widget-text-editor\" data-id=\"b57228d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uc774\ub7ec\ud55c \uae30\ub2a5\uc744 \ud1b5\ud574 Digify\ub294 <b>\uc2e4\uc6a9\uc801\uc774\uace0 \uacbd\uc81c\uc801\uc778 \uc194\ub8e8\uc158<\/b> \ub2e8\uc21c\ud568\uacfc \uc81c\uc5b4\uc758 \uade0\ud615\uc744 \ub9de\ucd94\ub294 \ud50c\ub7ab\ud3fc\uc785\ub2c8\ub2e4. \ub9ce\uc740 VC\uac00 \ud22c\uc790\uc790 \ucee4\ubba4\ub2c8\ucf00\uc774\uc158\uc744 \uac1c\uc120\ud558\uace0 \uaddc\uc815 \uc900\uc218 \uc694\uac74\uc744 \ucda9\uc871\ud558\uba70 \uc804\ubb38\uc801\uc778 \uc774\ubbf8\uc9c0\ub97c \uad6c\ucd95\ud558\uae30 \uc704\ud574 Digify\uc640 \uac19\uc740 \ud50c\ub7ab\ud3fc\uc744 \ud65c\uc6a9\ud569\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b4ef18 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5b4ef18\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28e6ccf elementor-widget elementor-widget-text-editor\" data-id=\"28e6ccf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\uacc4\uc0b0\uacfc \ucee4\ubba4\ub2c8\ucf00\uc774\uc158\uc744 \ub9c8\uc2a4\ud130\ud568\uc73c\ub85c\uc368 <b>VC \ud380\ub4dc \uc131\uacfc \uc9c0\ud45c<\/b>-IRR, DPI, TVPI, RVPI, MOIC \ub4f1 \ub2e4\uc591\ud55c \uc9c0\ud45c\ub97c \ud1b5\ud574 LP\uac00 \ud380\ub4dc\uc5d0 \uacc4\uc18d \ud22c\uc790\ud558\ub294 \ub370 \ud544\uc694\ud55c \uba85\ud655\uc131\uacfc \uc790\uc2e0\uac10\uc744 \uc5bb\uc744 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ub2e4\uc74c\uacfc \uac19\uc740 \uc548\uc804\ud55c \ud50c\ub7ab\ud3fc\uacfc \uacb0\ud569 <a href=\"https:\/\/digify.com?utm_source=blog&amp;utm_medium=article&amp;utm_campaign=homepage\" data-wplink-url-error=\"true\" target=\"_blank\" rel=\"noopener\">Digify<\/a>, \ub97c \uc0ac\uc6a9\ud558\uba74 \ub370\uc774\ud130 \uad00\ub9ac\ub97c \uac04\uc18c\ud654\ud558\uace0, \ubc84\uc804 \uad00\ub9ac\ub97c \uc720\uc9c0\ud558\uba70, \ud22c\uba85\ud558\uace0 \uc2dc\uc758\uc801\uc808\ud558\uba70 \ucee8\ud14d\uc2a4\ud2b8\uac00 \ud48d\ubd80\ud55c \ubcf4\uace0\ub97c \ud1b5\ud574 \uc9c0\uc18d\uc801\uc778 \uc2e0\ub8b0\ub97c \uad6c\ucd95\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><p>\ud380\ub4dc \ub77c\uc774\ud504\uc0ac\uc774\ud074\uc758 \ubaa8\ub4e0 \ub2e8\uacc4\uc5d0\uc11c \uc774\ub7ec\ud55c \ubaa8\ubc94 \uc0ac\ub840\ub97c \ud65c\uc6a9\ud558\uc5ec \uc804\ubb38\uc801\uc778 \uc5c4\uaca9\ud568\uc744 \uc785\uc99d\ud558\uace0, \uc2e0\ub8b0\ub3c4\ub97c \ub192\uc774\uace0, \ud22c\uc790\uc790\uc5d0\uac8c \uc2e0\ub8b0\ud560 \uc218 \uc788\ub294 \ud30c\ud2b8\ub108\ub85c\uc11c\uc758 \uc785\uc9c0\ub97c \ud655\ubcf4\ud558\uc138\uc694.<\/p><p>\ud568\uaed8 <a href=\"https:\/\/digify.com\/m\/trial?utm_source=blog&amp;utm_medium=article&amp;utm_campaign=trial-signup\" target=\"_blank\" rel=\"noopener\">Digify \ubb34\ub8cc \uccb4\ud5d8\ud310<\/a>, \uc5d0\uc11c \uc774\ub7ec\ud55c \uae30\ub2a5\uc744 \ud14c\uc2a4\ud2b8\ud558\uace0 \uac04\uc18c\ud654\ub418\uace0 \uc548\uc804\ud55c \ubcf4\uace0\uac00 \uc5b4\ub5bb\uac8c IR \uc804\ub7b5\uc744 \ud5a5\uc0c1\uc2dc\ud0ac \uc218 \uc788\ub294\uc9c0 \uc9c1\uc811 \ud655\uc778\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-67962df elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"67962df\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2558dc3\" data-id=\"2558dc3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6a43ae7 elementor-widget elementor-widget-image\" data-id=\"6a43ae7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/digify.com\/m\/trial?utm_source=blog&#038;utm_medium=article&#038;utm_campaign=footer-trial\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"160\" src=\"https:\/\/staging-x.digifyteam.com\/wp-content\/uploads\/2021\/08\/1-1024x256.png\" class=\"attachment-large size-large wp-image-24508\" alt=\"\ubb34\ub8cc \ud3c9\uac00\ud310 \uc2dc\uc791\" srcset=\"https:\/\/staging-x.digifyteam.com\/wp-content\/uploads\/2021\/08\/1-1024x256.png 1024w, https:\/\/staging-x.digifyteam.com\/wp-content\/uploads\/2021\/08\/1-300x75.png 300w, https:\/\/staging-x.digifyteam.com\/wp-content\/uploads\/2021\/08\/1-768x192.png 768w, https:\/\/staging-x.digifyteam.com\/wp-content\/uploads\/2021\/08\/1-18x5.png 18w, https:\/\/staging-x.digifyteam.com\/wp-content\/uploads\/2021\/08\/1.png 1200w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>\uc815\ud655\ud55c \ud380\ub4dc \uc131\uacfc \ubcf4\uace0\ub294 \uc815\ubcf4\uc5d0 \uc785\uac01\ud55c \ud22c\uc790 \uacb0\uc815, \uaddc\uc815 \uc900\uc218, \ud22c\uc790\uc790\uc640\uc758 \uc2e0\ub8b0 \uad6c\ucd95\uc744 \uc704\ud574 \ubca4\ucc98 \uce90\ud53c\ud138\uc5d0\uc11c \ub9e4\uc6b0 \uc911\uc694\ud569\ub2c8\ub2e4.<\/p>","protected":false},"author":5,"featured_media":25176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[33],"class_list":["post-24947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/posts\/24947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/comments?post=24947"}],"version-history":[{"count":4,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/posts\/24947\/revisions"}],"predecessor-version":[{"id":38771,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/posts\/24947\/revisions\/38771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/media\/25176"}],"wp:attachment":[{"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/media?parent=24947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/categories?post=24947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging-x.digifyteam.com\/ko\/wp-json\/wp\/v2\/tags?post=24947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}