The Fund Manager is responsible for:
- Provide fund formation parameters
- Complete AngelList capital submission form [if desired]
- Introduce customer success manager to portfolio companies to close investments
- Source prospective investments
- Perform investment due diligence
- Submit investments through AngelList dashboard
- Invite LP network
- Initiate capital calls [as needed]
- Review AngelList’s post-close summary and the post-close shareholder actions (such as follow-on financings and exit events) provided by portfolio companies. Provide recommendation to approve or reject such action on behalf of the Fund. For example, a portfolio company may send us material related to a merger acquisition. We will pass along the transaction documents and ask you to approve or deny the transaction.
- Communicate with portfolio companies regarding business outlook and strategic questions
- Consult with personal legal and financial advisors to assess relevant risks
- Review and approve investor updates for distributions
- Notify AngelList of audit requirements [if required]
- Notify AngelList of relevant updates regarding portfolio companies, such as financings, mergers, and dissolutions.
- Provide fund updates to LPs [as desired]
- [If forming any off-platform blocker or feeder entities] Fund Lead must provide (i) quarterly reporting and annual financial statements and (ii) necessary documents required for fund tax reporting for any off-platform blocker or feeder entities the Fund Lead forms for the fund
- Notify AngelList of any anticipated fund expenses other than those specified above so that AngelList can reserve capital
- All anticipated and unanticipated future costs and expenses associated with the fund, other than those costs and expenses specified above. Such costs shall include (but are not limited to) legal and regulatory expenses (i.e., Corporate Transparency Act filing requirements, foreign jurisdiction regulatory requirements.)