> For the complete documentation index, see [llms.txt](https://blog.tactyc.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://blog.tactyc.io/leveling-up-on-return-the-fund-analysis.md).
# Leveling Up on Return the Fund Analysis
**What is Return the Fund?**
*Return the Fund* is a common analysis managers undertake when evaluating venture deals. This involves calculating a *Return the Fund* metric i.e. the aggregate valuation a company needs to achieve in order to pay back the entire fund. A “Fund Returner” is a single deal that achieves this threshold — and while rare, deals like these are critical given the Power Law nature in VC.
Tactyc automatically calculates and presents *Return the Fund* in different contexts to answer various questions for the manager.
**For Portfolio Construction**
When constructing a fund, Tactyc shows the *Return the Fund* for each allocation and how that changes over subsequent rounds (shown in the *Rounds* section of your fund’s dashboard).
As the fund’s ownership dilutes over subsequent rounds, *Return the Fund* increases — and this can be helpful in setting future reserves to keep this metric in check.
**Beyond Construction**\
Similarly, for active portfolio companies, Tactyc automatically calculates the *Return the Fund* at each forecasted round. Simply select a specific investment’s performance case to view the *Return the Fund* profile.
**For Determining Reserves**
When setting reserves for a future round, Tactyc automatically shows how *Return the Fund* changes at different reserve levels. As reserves increase, *Return the Fund* decreases and thus a manager can use this as a guide to optimize their reserve for a particular deal.
By [Tactyc](https://medium.com/@tactyc) on [November 25, 2022](https://medium.com/p/d6731c4e26f2).
