How do founders actually model MOIC and IRR before the term sheet?

Most founders I talk to model investor returns after the term sheet lands. Too late. Angels already ran MOIC and IRR on the check size and the ownership they expect. If your math and theirs diverge, the call gets sticky fast.

What I check before any return slide: cash in, percent owned after close, a realistic exit, and years held. Dilution on the next round belongs in the model, not as a footnote. Round Funded walks that with the investor ROI calculator so both sides see the same MOIC and IRR from the same inputs.

Say the assumptions out loud. Investors fund clarity, not a polished guess.