Angel investor returns.

Angel investment return calculator projects exit proceeds, multiple, and IRR from an angel investment. Account for dilution from subsequent rounds before reaching exit. 25k invested for 5% ownership in seed round, diluted 50% through Series A/B/C, exits at 100M valuation: final ownership 2.5%, proceeds 2.5M (100x multiple).

Example: 50k investment, 4% initial ownership, 50% dilution to 2% final ownership, 200M exit, 7 years. Exit proceeds = 4M. MOIC = 80x. IRR = (80)^(1/7) - 1 = 80%. Strong angel return (most angels target 15-25% portfolio IRR, accepting most deals fail to drive returns from few winners).

Angel reality: 60-70% of angel investments fail completely (zero return). 20-30% return original capital or modest multiple. 5-10% generate the 10-100x outcomes that drive portfolio returns. Diversification is critical - 20+ investments needed for statistical chance of catching a winner. Best angels make 50+ investments. SEIS/EIS tax relief in (50%/30% income tax relief) substantially improves risk-adjusted returns.

Run it with sensible defaults

Using initial investment of 50,000, initial ownership of 4%, exit valuation of 200,000,000, total dilution of 50%, the calculation works out to 4,000,000.00. Nudge the inputs toward your own situation and the output recalculates instantly. The defaults are meant as a starting point, not a recommendation.

The levers in this calculation

The inputs — Initial Investment, Initial Ownership %, Exit Valuation, Total Dilution %, and Years to Exit — do not pull with equal force. The rate and the time horizon usually dominate — compounding means a small change in either reshapes the final figure more than a similar shift in contribution size. Test this by doubling one input at a time.

How the math works

Exit proceeds = exit valuation × initial ownership × (1 - dilution). MOIC = proceeds / investment. IRR = MOIC^(1/years) - 1. The working is transparent — you can verify every step yourself in the formula section below. No black box, no opaque "proprietary model".

Using this well

Treat the output as one point on a wider map. Run it three times — a pessimistic case, a central case, and a stretch case — and plan against the pessimistic one. That habit alone separates people who stick with an investment plan from those who bail at the first wobble.

What this doesn't capture

Steady-rate math ignores real-world volatility. Actual returns are lumpy; sequence-of-returns risk matters most in drawdown; fees and taxes drag on compound growth; and behaviour changes in drawdowns can reduce outcomes below the projection. Treat the number as one scenario, not a forecast.