PerformanceLP / GP
TVPI (Total Value to Paid-In)
Sum of distributions plus residual NAV, divided by paid-in capital — total fund value on a paid-in basis.
TVPI combines what has been distributed (realized) with what the fund still holds at current valuations (unrealized). It is a multiple on contributed capital.
TVPI must be read alongside DPI and RVPI: a strong TVPI driven only by unrealized marks carries different risk than one supported by distributions.