Legal
Terms of Use
These Terms of Use govern your access to and use of the VC fund benchmarking tool operated by Murph Capital LLC ("Murph Capital", "we", "us", or "our") at this website. By accessing or using the tool you agree to these terms. If you do not agree, do not use the tool.
1. Not Investment Advice
All content, data, benchmarks, charts, and analysis provided by this tool are for informational and educational purposes only. Nothing on this site constitutes investment advice, financial advice, legal advice, or any recommendation to buy, sell, or hold any security or investment. Murph Capital is not a registered investment adviser under the Investment Advisers Act of 1940 or any applicable state law. Past performance data reflected in benchmark figures does not predict future results.
You should consult a qualified investment professional before making any investment decision.
2. Benchmark Data Accuracy
Benchmark data is sourced from third-party providers (including Carta, PitchBook, Aduro Advisors, AngelList, and Cambridge Associates) and is provided "as is" without warranty of any kind. We make no representations about completeness, accuracy, timeliness, or fitness for a particular purpose. Cohorts with fewer than 20 underlying records are flagged as thin cohorts and carry additional uncertainty.
3. User-Submitted Data
The "Your Fund" comparison widget allows you to enter your fund's performance metrics locally in your browser. By default these values are not transmitted to our servers.
If you opt in to the data-sharing feature (by checking the consent box), your submitted metrics — vintage year, fund size bracket, and performance figures — along with an anonymous session identifier are stored in our database. You may not submit data you do not own or have the right to share. Do not submit data that is subject to confidentiality obligations or that identifies specific individuals.
By opting in you grant Murph Capital a non-exclusive, royalty-free, perpetual licence to use your submitted data in aggregated, anonymised form to improve benchmark quality. We will not publish or disclose individual fund submissions.
4. Prohibited Uses
You agree not to:
- Reproduce, redistribute, or sell the benchmark data without written permission;
- Use automated scripts, bots, or scrapers to extract data from this tool;
- Attempt to reverse-engineer or interfere with the operation of the tool;
- Submit false, misleading, or third-party confidential data through the form.
5. Intellectual Property
The software, design, and presentation of this tool are owned by Murph Capital. Third-party benchmark data remains the intellectual property of the respective data providers. Nothing in these terms transfers ownership of any intellectual property.
6. Disclaimer of Warranties
The tool is provided "as is" and "as available" without warranties of any kind, express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not warrant that the tool will be uninterrupted, error-free, or free of harmful components.
7. Limitation of Liability
To the fullest extent permitted by law, Murph Capital and its officers, employees, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of or reliance on this tool, even if advised of the possibility of such damages. Our total aggregate liability for any claims arising from these terms or your use of the tool shall not exceed $100 USD.
8. Third-Party Links and Content
This tool may reference third-party data providers and resources. We are not responsible for the content, accuracy, or practices of any third party.
9. Modifications
We may update these terms at any time. Continued use of the tool after any change constitutes acceptance of the revised terms. We will update the effective date above when changes are made.
10. Governing Law
These terms are governed by the laws of the State of Delaware, United States, without regard to conflict-of-law principles. Any disputes shall be resolved in the courts of Delaware.
11. Contact
Questions about these terms? Contact us at andrei@murph.capital.