
60 Ge tt in g re ad y fo r Ho lt e Ca pital
estimate how much each investor would invest if they were to invest, and
then assign a probability to the investment. So on the A-list we had five
or six investors we thought were 25 per cent likely to invest $3–4 million
and three or four investors who might invest more – say $7–10 million
– but were perhaps a bit less likely. At the lower end, we might have
an investor we reckoned 10 per cent likely to invest $2 million – so we
would add a weighted amount of $200,000 to our expected assets under
management. At the end of this process, we had about 70 names on the
list, and estimated ...