RVPI, residual value to paid-in capital, divides the value of what a fund still holds by the money investors paid in. It shows how much of a reported gain still depends on valuations. It adds to DPI to make TVPI.
What the video says
In private equity, a fund can show a gain, and most of it still hangs on the tree. It's called RVPI. Say investors paid in a hundred million. Thirty has come back in cash. What it still holds is valued at ninety. Ninety over a hundred is zero point nine. Add the cash part, and the total is one point two. Most of that is still a valuation. Early on, it's high. It falls toward zero as things sell. So why do investors care? It shows how much of a gain still rests on estimates. Count the cash. Then count the rest.
In the glossary: RVPI
A simple example with round numbers, not advice. Terms vary by fund.
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