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Valuation increases are determined by the fund's valuation policy. In venture capital, the valuation of the company is typically set by priced equity round. Other inputs don't factor in unless the fund is writing down a company. 

Valuation increases are determined by the fund's valuation policy. In venture capital, the valuation of the company is typically set by priced equity round. Other inputs don't factor in unless the fund is writing down a company.