I would focus on Seed+ startups backed by well-known VCs, so the failure rate would likely be ~50%. I modeled the probable distribution and it looks like I woul

I would focus on Seed+ startups backed by well-known VCs, so the failure rate would likely be ~50%. I modeled the probable distribution and it looks like I would return ~10-15% net IRR in a midpoint scenario. Interest rate would be LIBOR + some fixed % (probably 5%). Shared upside would be fixed at 10-15%.