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.