Institutional Fund Service Tier

Fund Setup Attributes

Self-advised fund option: Provide AngelList with your GP and adviser entities to run a self-advised fund; use custom documents drafted by your own legal counsel or standardized template fund documents
Platform-advised fund option: Use an AngelList-approved entity as your fund’s GP and adviser; use standardized template fund documents (vetted by top-tier law firms) to form your fund

Fund Reporting

Quarterly unaudited financial statements included

Fund Account Management

Customer Success team assigned to run fund operations and provide support

Supported Investments

Unlimited investments into U.S. C-Corps, as well as non-standard investments (e.g. off-platform fund-of-funds investments involving reporting and K-1 outreach, advisory share support) and crypto investments (incl. NFTs, token warrants, SAFTs, SAFTEs, token purchase agreements) are supported at no additional cost.

Fund Manager Responsibilities

The Fund Manager is responsible for the items listed here.

Passthrough Fund Expenses

State Regulatory

Fees

Blue sky filing fees incurred based on fund LP geographic makeup.

Variable

Master LP Entity Formation

Master Limited Partnership in the State of Delaware, valid for 10 years of use

Included

(typically $4,000 one-time fee)

Included Add-Ons

International investments	Outgoing FX wires processing; custom documentation requirements (e.g. notarizations, apostilles, fund KYC); upfront and ongoing tax analysis.	Included (Typically $1,000 per investment)
Non-standard investments	Advisory shares (investment analysis); fund of funds (reporting outreach, K-1 outreach)	Included (Typically $2,000 per investment)
Crypto investments	Documentation review, tracking, and tax analysis for crypto assets (incl. NFTs, token warrants, SAFTs, SAFTEs, token purchase agreements)	Included (Typically $2,000 per investment)
3(c)(7) parallel fund	3(c)(7) QP parallel fund setup	Included (Typically $15,000 per fund)
Blocker setup	Fund blocker setup for investing in passthrough investments	Included (Typically $6,000 per blocker)
Quarterly Financial Statements	Unaudited financial statements and capital account statements provided to LPs quarterly and annually	Included (typically $3,000 annually)
Audit Support	Management and coordination of audit timeline; communication, coordination and provision of documentation in partnership with external auditors to produce of audited financial statements. External auditor fees not included.	Included (typically $6,000 annually)

Additional Add-Ons

Full-Service Management Company	See the Management Company Scope of Services	$5,500/year Paid from management fees Cancel any time
Treasury*	Banking software with the security, transparency, access, and integrations you need for integrated operations and reporting. Access to Networked Banking (Sweep account program with multiple banks) Subject to our Investing Banking Terms	$5,000 annual software fee $5,000 for tax and financial reporting
Warehoused investments	Transferring of previously purchased assets into Fund	$2,000/ investment
Indian Investments	Indian Demat Account Setup	$2,800 per fund

*AngelList is a financial technology company, not a bank or FDIC-depository insured institution. Banking services are provided by Grasshopper Bank, N.A. and Piermont Bank; Members FDIC. The Networked Banking sweep program Sweep programs allocates deposits across a network of FDIC-insured banks and are offered through AngelList’s partner banks, Grasshopper Bank, N.A. and Piermont Bank, for up to $125 million in aggregate coverage for eligible participants. The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured bank. Account holders must explicitly elect to participate in the Networked Banking sweep program. Not all customers or accounts are eligible to participate in the Networked Banking sweep program and AngelList does not guarantee that customers or accounts will be eligible for additional FDIC insurance coverage. For more information, see our banking terms here.