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Should VC Deck Target 3x or 5x Returns and Reference Total or Net AUMs for 30% Gross IRR over 7 Years?

Guys for the VC deck when declaring target returns shall we go for 3x or 5x? Also shall this refer to total AUMs or AUMs net of fees? 30% gross IRR over 7 years would lead to a gross multiple of 6x which net of 20% management fees would result in 5x. Sounds about right to me no?
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0
you should have low - medium - high scenarios and ideally in the medium you should have a realistic pathway to ~5x

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