About this tool
Funds rarely call all committed capital at once. Instead the GP issues capital calls (drawdowns) over the investment period to fund investments and fees. The pacing — front-loaded, even or back-loaded — shapes when LPs must fund and how much dry powder remains.
This builder turns your commitment, investment period, call frequency and pacing into a full drawdown schedule, with per-call amounts, cumulative called, percentage drawn and remaining uncalled commitment.
How to use it
- Enter the total committed capital and investment period.
- Choose call frequency, an initial drawdown at first close, and a pacing curve.
- Read the schedule, the drawdown chart and the remaining dry powder over time.
Frequently asked questions
What is a capital call?
A capital call (or drawdown) is a request from a fund's GP for LPs to transfer a portion of their committed capital, used to fund investments, fees and expenses. Capital is called over the investment period rather than all upfront.
What is a drawdown schedule?
A drawdown schedule is the projected timing and size of a fund's capital calls over its investment period — showing how committed capital is converted into invested capital and how much remains uncalled (dry powder).
What is dry powder?
Dry powder is committed capital that has not yet been called or deployed. It represents the fund's remaining capacity to make new investments and follow-ons.