- 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)
- 5% placement fee on AngelList Capital. Learn more here.
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.
Placement fees are paid one time up-front at close. They can either be charged to the fund and borne pro rata by all fund LPs as a fund expense or reimbursed by the fund Lead with a portion of their Management fee.
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.