What models do growth equity / late stage VC funds use?

Quite interested in learning about late stage VC / growth equity. What sort of modelling do you do in this, would they basically just build out an LBO style financial model but essentially as a minority investment?


I.e. say a PE fund was investing in series B or C fundraise, how would the valuation/modelling/returns analysis be done?


Thanks. 

 
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