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  "docSlug": "jarvis-calm-company-portfolio-valuation-update-february-2021",
  "documentTitle": "Calm Company Portfolio Valuation Update February 2021",
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  "presentationDate": "2021-02-01 00:00:00",
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  "notes": "The slide outlines the valuation framework for the 'SEAL' (Shared Earnings Agreement) model.",
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      "text": "1. The majority of distributions to the fund and LPs will likely come via proceeds of a sale of the business\n2. Revenue growth is the primary driver of evaluating progress for portfolio companies.\n3. Annualized Revenue is the primary driver of estimated company value.\n4. We've chosen 5x Annualized Revenue as a reasonable benchmark for the value of portfolio companies.\n5. Our financing model contemplates scenarios where the founder wants to sell for something under the Valuation Cap of the SEAL.",
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      "text": "In February 2020, we published a first draft of our portfolio valuation approach, which outlined several of the key tenets that we believe are fundamental to assessing the performance of our portfolio companies.",
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      "text": "Results as of 12/31/20",
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      "text": "Earnest Capital Portfolio Valuation Update, February 2021",
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