MOIC stands for Multiple on Invested Capital. It is a private equity and venture capital metric that measures how many times an investor’s original investment has been returned.

The formula is:

MOIC = Total Value Received/Initial Investment

For example, if you invest $1 million and later receive $3 million total from distributions and sale proceeds:

MOIC = 3,000,000/1,000,000 = 3.0x MOIC

That means you achieved a 3.0x MOIC (“three times your money”).