Dumb Growth Equity Modeling Question

Dumb question. There's a plethora of LBO modeling resources and the mechanics of a LBO make sense to me i.e. there's an entry multiple to determine TEV, there's a split of equity / debt and then you paydown debt and exit for financial returns. However, within growth equity that's minority interest, is the model similar to VC where there's a post-money valuation at entry (based off revenue, recurring revenue or EBITDA) and then you exit in the future? Tactically, does that mean you just need an income sheet forecast with cash balance / burn and balance sheet being used as qualitative color?