IRR
+13%
Multiple
1.50x
DPI
0.30x
Size
$10.3B
Vintage
2020
RETURN GRADE:MEDIOCRE
MARK VS PUBLIC MARKET
How does the GP's self-reported return compare to simply buying the S&P 500 at the same vintage?
Veritas Capital Fund VIII
+13% IRR
~+108% total return over 6 yrs
S&P 500 (2020 vintage)
+65%
Total return, 2020 to present
VERDICT: GP marks outpace the S&P 500 by ~43pp. But DPI is low — returns exist only on paper until realized.
Notes
Government services and defense tech specialist. Consistent performer. Benefits from counter-cyclical government spending.
ALL RETURNS ARE SELF-REPORTED BY GP MARKS — NOT AUDITED, NOT MARK-TO-MARKET