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Retain the original two capital amounts
The fictional report supplies commitment 200, paid-in 100, distributions 40 and residual value 110. The multiple question explicitly asks for total value to paid-in, rather than value to committed capital.
Use the named denominator
Total value is 150. Dividing by paid-in 100 gives 1.5×. Commitment describes another amount in the record and does not belong in this named denominator.
| Calculation | Result | Label |
|---|---|---|
| 150 / 100 | 1.5× | Total value to paid-in |
| 150 / 200 | 0.75 | Value to commitment, a different ratio |
Locate the substitution in the source
A spreadsheet can reference the commitment column because it is the headline figure or a nearby cell. Inspect the formula’s actual denominator and unit label, rather than trusting a header that says TVPI.
Preserve commitment for its own question
The commitment remains relevant to obligations and planning. Correcting the performance denominator should not delete that information. In this simple record the uncalled balance is 100, but real commitment adjustments require their own terms and records.