Venture Capital Pre-Money Valuation Calculation

In the context of venture capital, valuation of a startup can be particularly challenging due to the lack of historical data and the high uncertainty surrounding future performance. One common method used to determine the pre-money valuation of a startup is the Venture Capital (VC) method. This method incorporates both projected return expectations by the VC firm and the anticipated exit value.

If a venture capital firm expects to achieve a return on investment (ROI) of 5x over a holding period of 5 years, and they project that the company could achieve an exit valuation of $100 million at the end of this period, what is the maximum pre-money valuation the firm would accept for investing in this startup now?