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Draper Lancelot
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Subscription Amount
$50,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account
Note from The Draper Roundtable Team
Draper Lancelot Rolling Fund: Investing in Draper Network's Top Deals
Draper Lancelot is a Rolling Fund, led by Sydney Mofya, that provides access to the top Draper-invested deals on the DraperX platform. The fund is designed to give passive LPs, AngelList Platform LPs, and new LPs the opportunity to invest alongside Tim Draper and the Draper Network. The fund will match a capped percentage of any early-stage (Series A and earlier) venture investments that have been shared or invested in by Draper Network members.
Our allocation grows with our members’ conviction…
Investment Strategy:
The fund's investment strategy is aligned with the Draper Network's supernode members, including Draper Associates, Draper Dragon, Draper Goren Holm, boostVC, Blockchain Valley Ventures, and many others. The Draper Network brings decades of combined early-stage startup experience and a hands-on approach to helping portfolio companies overcome challenges and reach their milestones.
Focus Areas:
The fund's focus areas will be primarily in the Web3 and fintech sectors for the first two quarters, reflecting the network's expertise and experience in these areas. We will then expand to become industry agnostic so investors get the best returns from the best companies.
Join Draper Lancelot and tap into the experience and expertise of the Draper Network as we seek out and invest in the future.
Sydney Mofya
Investment Details
Subscription Start Date
July 1, 2024
Minimum Quarterly Subscription
$50,000
Minimum Subscription Period
4 Quarters
Management Fee
Investors pay management fees of 2% per year for the first 10 years.
Management fees are taken as a percentage of the total committed capital. The total management fee is paid out quarterly over the first
four years of the fund's life.
Carry
Twenty percent (20%)
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this Rolling Fund will transition onto updated Rolling Fund pricing terms. Under these new pricing terms, each new quarterly fund in the Rolling Fund Program will pay an annualized rate of $2.5k + 0.2% of contributed capital over 10 years.
Fees for each quarterly fund in the Rolling Fund Program will vary based on each quarterly fund’s capital contributions since the fee includes a flat fee component. The platform’s average quarterly fund size is $580k. Learn more about how to estimate your commitment’s fees at our help center.
Fees for each quarterly fund in the Rolling Fund Program will vary based on each quarterly fund’s capital contributions since the fee includes a flat fee component. The platform’s average quarterly fund size is $580k. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
The Draper Roundtable Team's personal subscription per quarter will be at least $10,000 with a quarterly cap of 15% of each quarterly fund's total committed capital. The Draper Roundtable Team will satisfy their GP commitment in part by waiving a portion of management fees otherwise owed to them by the fund.
Investor FAQ
How is this program different from venture fund investing?
How do subscriptions work?
How do management and admin fees work?
How does carried interest work?
How do distributions work?
Will a Limited Partner (LP) participate in all investments made by the funds offered through this Program?
Will an LP's percentage ownership of quarterly funds always be the same?
Are LPs guaranteed access to Draper Lancelot's future funds?
How are subscriptions funded?
How does changing or canceling a subscription work?
Who manages these funds?
Do funds in this Program have minimum or maximum investment sizes?
What happens if funds in this Program do not invest their total capital each quarter?
When will LPs learn about companies the funds invested in?
Can LPs opt out of specific deals?
Can LPs sell their investment in the fund?
Can LPs redeem their interests in the fund?
When will funds launched under this Program begin deploying capital?
How do I receive tax documents from this Program?
Unanswered questions? Contact AngelList
The performance of past deals or a lead investors' track record is not a guarantee of future returns. Venture capital fund investments are inherently risky and illiquid. Such investments involve a high degree of risk and are suitable only for sophisticated and accredited investors.
AngelList and its affiliates do not provide investment advice to investors. The information on this page should not be relied upon as research, investment advice or a recommendation of any kind. Information on this page is qualified in its entirety by the fund's Limited Partnership Agreement, Private Placement Memorandum and Subscription Agreement, which should be reviewed carefully prior to making an investment decision. Please see these documents for full details regarding risks, minimum investment, fees and expenses. The Fund Lead and the fund's investment advisor have the right to waive or charge additional carry to certain investors. The fund's legal name may be different from the name used above.
This fund may accept new investors after the fund undergoes a valuation update. Certain potential investors in the fund may then have access to materially different information concerning fund value at the time of their investment.
Current or future portfolio companies in this fund may use AngelList's recruiting platform and may pay an affiliate of the fund's investment adviser for premium recruiting tools and services. This may create a potential conflict of interest for the investment adviser, which you will consent to by subscribing to the fund.
Please read the disclosures in full here.
Apply To Subscribe
Subscription Amount
$50,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account