How much does it cost to run a Rolling Fund?

  • Fund services fees: 2% + $25k of contributed capital for maintenance of the quarterly fund’s entire 10-year lifetime (discounted to 2% + $8k for each Rolling Fund’s first two quarterly funds)
  • Variable state and provincial regulatory fees (capped at $5k for each quarterly fund)

The percentage portion of the fund services fee is charged as a percentage of contributed capital to a quarterly fund, excluding any roll-over capital contributions from earlier quarters.

Much like management fees, the fund services fees are collected up-front and paid out when earned out of a designated account set up for the Fund.

State and provincial regulatory filings are required by securities regulators in the U.S. and Canada. In the US, state regulatory fees are known as blue sky filing costs. Fees vary depending on the geographic makeup of LPs in the Rolling Fund. If these fees exceed $5k for each quarterly fund, AngelList will cover the excess.

To learn more about blue sky fees, read our Help Center article. To learn more about pricing, visit our pricing page.

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