There are approved methods and standards (see IVS, for example) for evaluating the most likely return on capital investment. One method is benchmarking, where you look at similar exits in the past (e.g., VUZIX, RECON, and others sold shares well beyond 100 million. EUR/GBP/USD.). If a start-up has a valuation of 6M—10M but is sold for 60M—100M, the 10x return on investment can be seen. Since most innovative high-tech startups of this calibre sell for well beyond 100M – and since we could have 3 exit scenarios under the holding company (see next question), we are confident that a higher ROI is possible, but we prefer to be more prudent in our estimation.