Build & Stress-Test Your VC Fund Model

Forget theory. This 12-week sprint is built for people who want to get serious about fund modelling - fast. Each week, you’ll turn assumptions into numbers, numbers into a strategy and that strategy into a fund model you can actually defend. By the end, you won’t just know the mechanics - you’ll have the model LPs will expect to see.

What you’ll get

Over 40 hours of live interactive content

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    A fully built, LP-ready fund model (not a template, your model, built by you). We don’t believe in sharing template. Don’t join if you expect to get a template.

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    Hands-on practice in assumptions, portfolio construction, KPIs, dashboards and return pathways.

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    Live LP & GP feedback - what real allocators and fund managers will actually ask you.

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    A peer community for accountability, iteration, and perspective.

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    Masterclasses, AMAs, office hours, community challenges, expert panels, dashboards and best practices.

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    A ticket to the EUVC Awards Show in London, where the program wraps up.

Register Now - Limited Enrollment

  • Almost certainly the single most useful webinar I’ve ever attended.

    CFO at a venture fund, UK (fund successfully raised Fund II)

  • It was deeply reassuring to see that what I’ve built is good enough — and to get ideas on how to make the model more flexible.

    GP at an emerging fund, UK (recently reached first close)

  • Strong guidance on how to build a fund model and avoid the pitfalls. Much appreciated the real-life insights.

    GP at a one of the most established Nordic early-stage funds

  • Thoughtfully structured, but also informative, entertaining, and well put together.

    Angel Investor, Germany

  • Lots of content from an experienced operator, grounded in both theory and practice.

    Principal at a Swiss family office

  • Very useful from my perspective as fund controller - intense, but in the best way.

    Fund Controller, Germany

What’s inside

This isn’t a “watch some slides” kind of program. Every week you’ll build, share and stress-test your fund model — piece by piece, challenge by challenge. You’ll be pushed to make assumptions explicit, defend your strategy and refine your work with direct feedback from peers, GPs and LPs. By the end, you won’t just understand fund modelling — you’ll have your own LP-proof model and the confidence to stand behind it.

Week 3: Challenge #2 – Portfolio Strategy Showcase

Defend your construction strategy (portfolio size, ownership targets, reserve plan) in front of peers. Expect pushback.

Week 5: Office Hours + Challenge #3 – Model Breakdown

Submit your first full working model. Open peer review and live troubleshooting — a “dress rehearsal” before LP scrutiny.

Week 0: Foundations of Fund Modelling

Core logic and structures of VC funds, fund procedures and fee mechanics, intro to key KPIs (MoIC, TVPI, DPI, IRR). Includes a mini-model workshop with an assumption sheet starter.

Week 4: Assumptions Sheet Construction

Build a fully detailed assumptions sheet. Explore sensitivity analysis, scenario impacts, and strategic levers you can tweak.

Week 6: Portfolio Construction & Decomposition

Entry & follow-on modelling, asset valuation, write-offs, NAV tracking and planning for exits.

Week 8: Fund Terms & KPIs

Deep dive into key metrics (TVPI, DPI, IRR), dashboard design for reporting and how GPs present numbers internally vs externally.

Week 10: Fund Returner Capstone

Reverse-engineer return pathways from successful funds. Work through live group exercises to map realistic paths to outperformance.

Week 12: Wrap-Up at EUVC Awards Show

Cohort closes in person. Final Q&A, peer networking, and exclusive access to a private side event - capped off with the EUVC Awards Show.

👉 Plus ongoing weekly peer feedback threads, accountability check-ins & community challenges

Week 1: Challenge #1 – Share Your Assumptions SheeT

Kick off by drafting your initial assumptions: fund size, strategy, entry checks, reserves, exit horizons. Share with peers for structured feedback — a baseline for everything that follows.

Week 2: Essential Building Blocks

Portfolio construction, capital deployment pacing, exit multiple scenarios, and how LPA terms shape model outcomes.

Week 7: LP Expert Panel

Hear directly from allocators how they evaluate models, what they ignore and where they dig deepest.

Week 9: Challenge #4 – Dashboard Showcase

Share your LP-facing dashboard (Excel, Airtable, Causal — your choice). Peer + expert feedback on clarity, storytelling and LP expectations.

Week 11: GP Expert Panel

Lessons, mistakes, and best practices from managers who’ve lived through multiple fund cycles.

Meet THE Instructors

DAvid Cruz e Silva

Founder of eu.vc – Europe’s Venture Community, David has designed and delivered training programs for more than 300 VCs across Europe in the past year alone (average rating: 4.7/5). An operator-turned angel LP, he backs top-tier European early-stage funds, leads an angel syndicate, and serves as a Venture Partner with Isomer Capital.

Through EUVC, David has helped emerging managers sharpen their fundraising strategies, founders navigate venture, and LPs allocate with confidence. He’s also the host of the EUVC Podcast and a regular speaker on Europe’s venture ecosystem.

Marc Penkala

Marc is Co-Founding Partner at āltitude and brings over a decade of hands-on VC experience as an investor, advisor, and angel. A former Investment Director and serial entrepreneur, Marc has advised multiple European family offices and venture funds on structuring and operations.

He has co-taught more than five EUVC masterclasses on fund modelling (120+ attendees, rated 4+/5), making him one of the most trusted trainers for emerging managers looking to professionalise. Beyond teaching, Marc is an active angel with 25+ startup investments, a three-time founder, and a widely read voice on venture through his writing and speaking.

Who It’s For

This cohort is for anyone who needs to think about fund models seriously — whether you’re raising, backing, or supporting VC funds. If you want to build LP-proof models (not just pretty spreadsheets), this is for you.

  • Wether you’re a partner, a GP or an emerging manager, you’re either raising your first fund or already managing capital. In both cases, your model is the story behind your strategy - and the backbone of every LP conversation. This cohort helps you pressure-test assumptions, build dashboards LPs trust, and stress-test your model against real allocator scrutiny. If you want your fund model to actually close capital (and not just sit in Excel), this is built for you.

  • As a family office, you sit on both sides of the table: evaluating GPs while sometimes building your own vehicles. In both cases, fluency in fund modelling is no longer optional. This cohort gives you the tools to assess funds more rigorously, benchmark assumptions, and - if you’re building your own strategy - construct models that match institutional standards. It’s a rare chance to step inside the GP perspective, while sharpening your LP edge.

  • You’ve been writing cheques. Now you want to run a fund. But institutional capital won’t look twice without a serious, defensible model. Or maybe you just want to level up your game. This program gives you the building blocks, community, and expert feedback to transform your investing style into a structured, LP-proof strategy. It’s how you graduate from “active angel” to credible emerging manager or “super angel”.

  • Whether you’re a principal, an associate or an ambitious junior, we’re happy to have. But note: this is not “VC 101”. If you’re here, we expect you to bring your A-game. You’ll be in the same room as GPs and LPs, so there’s no hand-holding, no dumbing down. Instead, you’ll get a crash course in what actually matters at partner level: return pathways, fund mechanics, LP optics. For you, the payoff is huge - you’ll walk out knowing how to build, defend, and iterate models at the standard LPs demand, and you’ll instantly level up inside your fund.

Limited Enrollment

Limited Enrollment

One cohort - Different starting points

Pick the tier that matches your profile. Everyone gets the same access, resources, EUVC Awards ticket and EUVC community access.

Professional Tier: € 2,500

For established VCs, family offices, allocators, or professionals backed by institutional firms.

Includes:

  • 12-week program (~40 hours live + challenges)

  • Masterclasses, expert panels, AMAs, office hours

  • Resources, dashboards, reporting guides, recordings

  • Certification upon completion

  • Attend the EUVC Awards Show as part of an invite-only cohort group — more visibility, more connections.

  • 12 months of complimentary EUVC Community Membership

⭐ Most Popular

Emerging Tier: € 1,800

For VCs with AUM under €30M, EUVC Community Members or angels wanting to professionalise.

Includes Includes everything in Professional.

We reserve the right to review and validate eligibility.

Team PAckages: Custom Pricing

For family offices enrolling multiple team members, or VC firms sending entire teams. Contact us for tailored packages.

💡 Invoices provided - most participants expense this through their firm. Why it makes sense: this isn’t “training,” it’s directly building the fund model your team will raise with, sharpened by peer and LP review.

Frequently asked questions

  • Every Wednesday from 16:30–18:30 CET, starting 14 January 2026, wrapping in the week of 20 April 2026 during the EUVC Awards Show in London.

  • Fully interactive. Expect weekly community challenges, peer feedback and expert grilling. Passive observers won’t make it to certification.

  • Yes. Every participant gets a free EUVC Awards Show ticket as part of the program. It’s the final closing event — and the perfect chance to meet your cohort in person.

  • Yes - and no. You don’t need to be an Excel wizard, but you do need to be comfortable with numbers and fund mechanics. We won’t dumb it down. If you’re in VC (or seriously planning to be), you’ll keep up.

  • We cap it at a manageable size so everyone gets feedback and peer accountability. This is not a webinar series. We tend to try to keep our programs capped at 30 participants or so.

  • Yes - but only as long as you are an EUVC Community Member. You’ll get all the resources, guides and recordings for life, plus the EUVC resource collection.

  • We can’t promise commitments. What we do promise is a model that passes LP scrutiny and helps you communicate your strategy credibly. The rest is on you.

  • The more you put into it, the more value you extract; so it’s completely up to you. We recommend around 3–4 hours per week (2 hours live + ~1–2 hours on challenges and peer review). Over 12 weeks, that’s ~40 hours total.

  • Individually, the masterclasses alone are worth the price. The cohort format adds peer accountability, expert panels, LP feedback, certification, and a free EUVC Awards Show ticket and 12 months of complimentary EUVC Community access - making the €2.5k price point a no-brainer.

  • Because this isn’t “just training” - it’s building the actual fund model you’ll use to raise, refine strategy, and report to LPs. For employers, it’s professional development + direct fund value creation. The cost is marginal compared to the cost of getting fund modelling wrong.

  • Nope. The focus is Europe (and the Summit is in London), but we’ve had participants from across the world join past EUVC programs. A kick ass model speaks any language in the world.

  • Yes. Masterclasses are recorded, but we strongly recommend attending live - that’s where the value of feedback, peer interaction, and grilling comes in. This is particularly true for the AMAs, Q&As and community challenges as these are not recorded.

  • Perfect. This isn’t just for Fund I. We’ll help you refine, update, and stress-test models at any stage - especially useful if you’re preparing for a new raise or rethinking portfolio strategy.

  • That’s fine. Many participants join to prepare for a future raise, sharpen their internal strategy, or simply to level up their skills. The cohort gives you a complete toolkit you can apply whenever you launch - and a peer network that’ll still be there when you do.