What does TVPI mean with respect to reporting private fund returns?

Total Value to Paid-In (TVPI) is a comprehensive metric used to estimate overall fund performance. TVPI takes into account both realized and (estimated) unrealized values. A TVPI greater than 1x indicates that the investment's overall value has grown, while a value less than 1x suggests it has fallen. For example, a 1.5x TVPI means a fund is expected to ultimately generate 50 cents in profit for every dollar contributed.