How do administrative fees on Rolling Funds compare to administrative fees on Venture Funds?

Administrative fees on Rolling Funds were designed to have parity with AngelList's Full Service Core Venture Fund offering, based on an assumed 2-year deployment period. Two years is the standard deployment period timeline for Venture Funds.


Our administrative fee for Rolling Funds is 2% + $25k per quarterly fund. As an illustrative example, for a Rolling Fund that raises an average of $900k/quarter: 

  • Each quarterly fund would pay $43k in admin fees across its 10-year lifetime*
  • Assuming quarterly fund sizes remain constant, this Rolling Fund would incur $344k in total administrative fees over 8 quarters. 
  • This translates to 4.7% of total fund size.

Our administrative fee for Full Service Core Venture Funds is an annualized administrative fee of 0.2% + $20k over each fund's 10-year lifetime. A $900k/quarter Rolling Fund over 8 quarters roughly compares to a $7.2M Venture Fund.

  • A $7.2M Venture Fund would pay $345.8k in administrative fees, paid over its 10-year lifetime. 
  • This translates to 4.8% of total fund size.


Note that while Full Service Core Venture Funds incur additional fees for add-on services (parallel funds, blockers, certain complex investments), Rolling Funds do not. To learn more about how both offerings compare, you can review the services offered under each product here.


*Each quarterly fund has its own 10-year lifetime. The administrative fees quoted per quarterly fund represent total fees for that particular quarterly fund, which are paid out over a 10-year period.

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