Growth Venture Funds. For growth venture funds, the situation is slightly different. According to Cambridge Associates, the 30-year average annual net return for late and expansion-stage funds is a more modest 12.6% (through December 31, 2014). This is consistent with the funds' lower risk profile, which stems, in part, from diversification. Oct 11, 2021 · To calculate MOIC: MOIC = (Realized Value + Unrealized Value) / Amount Invested To evaluate your net MOIC, you would take the value from the above formula and subtract the cost of carried interest, taxes, and other fees. What is the Internal Rate of Return? The IRR calculation is far more complicated..