Comment by bsirkia

Sorry can someone explain a bit more about the Small Win Scenario and how you still get all your money back? Say Snapchat IPO's for $1B and you invested $100M at a $3B valuation, wouldn't you only get $33M of your money back? Or is that the caveat in "assuming I’m the most senior investor"?. Everyone investing at these valuation can't all be the most senior investor right?