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PE Glossary

RVPI (Residual Value to Paid-In)

RVPI · The value of unrealized investments remaining in the fund relative to paid-in capital. RVPI + DPI = TVPI. High RVPI in older funds may indicate difficulty exiting positions.

Example

A 2018-vintage fund has distributed €600M to LPs (DPI 0.6x) and holds remaining unrealized investments valued at €900M (RVPI 0.9x) on €1B of paid-in capital. Total TVPI is 1.5x, with 60% realized and 40% still in the ground.

Related terms

DPI (Distributions to Paid-In)TVPI (Total Value to Paid-In)
All glossary terms

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