Free practitioner guide ยท 53 pages ยท 2026
The AI Value Creation Model
One gate, twelve levers and a worked EBITDA bridge. Built for deal teams and operating partners who sign the investment memo.
โ The Carry Test: the one gate every AI initiative must pass
โ Twelve levers mapped to the bridge lines private equity already uses
โ A worked EBITDA bridge, from 24.0 to 40.8
โ Six templates ready to use on Monday morning
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1 gate
The Carry Test. If it does not map to carry, it is not funded.
12 levers
Mapped to the bridge lines private equity already uses.
35+ exhibits
Tables, matrices, schematics and a frozen worked case.
What is inside
Written for people who sign investment memos, not for people who sell software. Every chapter ends with three things to do on Monday morning.
Component 1
The Carry Test
The one gate every AI initiative passes or fails, the carry-clearing arithmetic (1.60x, 1.71x, 2.19x), and the ten questions an IC should ask.
Component 2
Three Layers, Three Clocks
OpCo, fund, and GP. Where the AI dollar lands decides who benefits, and who should pay.
Component 3
The Lever Map
Four machines against five value levers. Twelve levers that pass the test most often, with clocks.
Components 4 and 5
Lifecycle and Operating System
Sourcing to exit, the 100-day plan, the no-fly list, tiered access, and the four-bucket scoreboard.
Worked example
The Corbin bridge
EBITDA 24.0 to 40.8, the AI-enabled half of the gain, how it is claimed, and how a buyer will test it at exit.
Templates
Ready to use
The carry map, the Carry Test checklist, the no-fly list, the verification checklist, the scoreboard, and the board one-pager.
The gate
If an AI initiative cannot be mapped to an increase in future carried interest, directly or indirectly, within a defensible timeline, it should not be approved on the fund's dime.
Efficiency is an operational metric. Carry is an ownership metric. The guide turns that sentence into a test you can run on a napkin.
Put the Carry Test in front of your next investment committee
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About VCI Institute
VCI Institute is a nonprofit dedicated to building practical capability and shared standards for value creation in private equity. Its certification ecosystem, including the Certified Operating Partner in Private Equity (COPPE) and the Certified Value Creation Analyst (CVCA) tracks, serves operating partners, value creation professionals, and portfolio company leaders. The AI Value Creation Model is part of how the Institute teaches the AI Value Creation Accelerator.