Venture and buyout, decoded.
Twelve plain-English lessons across the whole of private markets. How funds are built, how the J-curve works, how carried interest is split, how IRR and MOIC differ, how leveraged buyouts create returns, how cap tables dilute, how exits happen, how private credit lends, how secondaries trade, and how limited partners think. A deep scenario question bank with explanations. Eight interactive tools: carry waterfall, fund returns, dilution, LBO, fee drag, and more. Free, forever, for anyone who wants to understand how private capital actually works.
Where to begin.
Twelve lessons cover the whole field.
Deals that made the playbook.
The architects of private capital.
How the industry was built.
Private markets by the numbers.
Concepts worth understanding.
Common questions, plain answers.
Strategies, side by side.
Cycles, booms, and resets.
The metrics that matter.
Open questions in private capital.
Core private markets math.
Lessons that teach.
Twelve core private markets topics, each with worked examples and three quick practice questions. About 12 to 16 minutes per lesson. Tap any to start.
Drill the concepts.
Quick quizzes from the full question bank. Carry, the J-curve, IRR versus MOIC, LBOs, dilution, exits. Each question is explained whether you get it right or wrong.
Numbers you can play with.
Plug in real values. Carry waterfall, fund returns and IRR, DPI and TVPI, the J-curve, venture dilution, the LBO engine, and management fee drag.