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Rolling Funds

Fundraise publicly and continuously. Your LPs subscribe quarterly, so you can regularly accept new capital — and never need to raise another fund again.
Apply to lead a fundInvest in rolling funds

Grow on Your Own Terms

Fundraise Publicly

Unlike traditional venture funds, Rolling Funds fall under SEC Rule 506(c), which means they’re publicly marketable.

Start Investing Right Away

Our always-on quarterly subscription model means you can start investing with less capital upfront.

Continuously Accept New Capital

Leverage portfolio markups and accept new capital quarterly, so you never need to raise another fund again.

What people are saying about Rolling Funds

Resources

Rolling Funds Resources

Read what people are saying about Rolling Funds.

How to Raise a Rolling Fund

This guide is short but the journey is long. There's no rush!

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Will Rolling Funds Roll Over the Venture Capital Industry?

In the world of venture capital, the big news of the past two weeks has been AngelList’s “Rolling Venture Funds.” More than 15 funds have publicly launched on the platform since February, including those led by Sahil Lavingia, Allyson Kapin and Kate Brodock, Cindy Bi and others.

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Rollin’ (ARR-paid vehicle)

One of the themes we talk about a lot in this newsletter, such as here and here and here and here and here, is how Silicon Valley is a “controlled bubble”.
It has to be! Startups have a major structural problem to overcome...

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How Rolling Funds Work From the Inside

How did we create ours in just 10 weeks and what will it change in the venture capital industry? 
I had just spent over a year trying to raise The Refiners Fund II, and after a long roadshow trying to convince LPs to invest in our Fund, we were finally about to announce...

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Rolling Funds & the Rise of the Micro LPs

My corner of Twitter has been absolutely dominated by talk of rolling funds lately.
I wrote briefly about rolling funds a few weeks ago in ‘My First VC Investment’. And Minal Hassan put out an excellent comprehensive post on them on her Substack...

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Rolling Fund Weekly - Edition #4

Welcome to the fourth edition of Rolling Fund News, a weekly digest with updates and analysis of rolling funds and their wider impact on venture capital and early-stage investing. This week, we’re highlighting an informative interview and Q&A in case you missed it...

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Rolling Fund FAQ: What Is A Rolling Fund?

Since launching our newsletter, we’ve encountered some frequently asked questions about rolling funds. This guide explains the mechanics of the rolling fund structure and how to invest in a rolling fund, and explores the wider impact on venture capital and early-stage investing.

Read the article

Will Rolling Funds Roll Over the Venture Capital Industry?

In the world of venture capital, the big news of the past two weeks has been AngelList’s “Rolling Venture Funds.” More than 15 funds have publicly launched on the platform since February, including those led by Sahil Lavingia, Allyson Kapin and Kate Brodock, Cindy Bi and others.

Read the article

Rolling Fund FAQ: What Is A Rolling Fund?

Since launching our newsletter, we’ve encountered some frequently asked questions about rolling funds. This guide explains the mechanics of the rolling fund structure and how to invest in a rolling fund, and explores the wider impact on venture capital and early-stage investing.

Read the article

Rolling Fund FAQ: What Is A Rolling Fund?

Since launching our newsletter, we’ve encountered some frequently asked questions about rolling funds. This guide explains the mechanics of the rolling fund structure and how to invest in a rolling fund, and explores the wider impact on venture capital and early-stage investing.

Read the article

AngelList Venture Pricing

Traditional Funds

Admin fee:

1% annual of fund size
($25k cap)

No carry on your own LPs

5% carry on AngelList LPs

Rolling Funds™

Admin fee:

0.15% annually of contributed capital

Calculate fees

No carry on your own LPs

5% carry on AngelList LPs

Apply to lead a fundShow all services

Syndicates

One-time:

$8k setup fee

No carry on your own LPs

5% carry on AngelList LPs

FAQ

How are Rolling Funds different from Traditional Venture Funds?
How can fund managers talk about their fundraising publicly?
How are management fees structured with Rolling Funds?
What benefits do fund managers get working with AngelList Venture?
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Disclaimer:
Past performance is not indicative of future results. Examples of portfolio companies are purely for illustrative purposes. This list is only partial, and readers should not assume that the investments identified were or will be profitable or are representative of investments by AngelList Advisors’ advised funds or SAX Capital's advised funds. A complete list of investments by either adviser is available upon request, subject to confidentiality requirements. There is no guarantee that any fund will achieve the same exposure to, or quality of, investments held by any existing fund.

The percentage of top-tier U.S. VC deals in AngelList Advisors or SAX Capital advised funds' portfolios is based on third-party reports of top-tier VC firms' early-stage U.S. investing activity. Unicorns are private companies that have announced funding rounds with post-money valuations over $1 Billion. While we believe these reports to be reliable, we have not independently verified their accuracy. All figures in this presentation are as of January 15, 2021. We undertake no obligation to provide updates or revisions. Please contact us for details of AngelList Advisors or SAX Capital's valuation policy.

*Some of the funds listed on this page are advised by AngelList Advisors and some are advised by SAX Capital, LLC.  For example, the AngelList Access Fund is advised by SAX Capital, LLC and not AngelList Advisors, LLC.
TermsPrivacyDisclosures
© Venture. All rights reserved.
Disclaimer:

Investing in venture capital funds is inherently risky and illiquid. It involves a high degree of risk and is suitable only for sophisticated and qualified investors. Past performance is not indicative of future results. Examples of portfolio companies are purely for illustrative purposes and selected based on name recognition. Examples provided are only partial, and readers should not assume that the investments identified were or will be profitable or are representative of investments by AngelList Advisors’ advised funds or SAX Capital's advised funds. There is no guarantee that any fund will achieve the same exposure to, or quality of, investments held by any existing fund. Nothing on this page shall constitute an offer to sell or a solicitation of an offer to buy an interest in the partnership or other security. Any offer to sell or solicitation of an offer to buy an interest in the partnership may be made only by way of the partnership's final definitive confidential disclosure document.

Quotes included in these materials related toAngelList's services and should not be construed in any way as an endorsement of AngelList's advice, analysis or other service rendered to its clients.

Any terms related to the provision ofAngelList services are subject to change without notice.