Obviously a larger return (10x-100x) is more of a win but to discount a modest exit that an investor and founder(s) agree on as not a win is a bit harsh. Each o

Obviously a larger return (10x-100x) is more of a win but to discount a modest exit that an investor and founder(s) agree on as not a win is a bit harsh. Each one of these startups has a different story and had their own definition of what was considered success and a good investor's reputation is also based on ensuring that startups can achieve that.