Apply to
Forefront Venture Fund
Apply To Subscribe
Subscription Amount
$10,000+ Quarterly
Subscription Period
4 Quarters
Management Fee
0% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account
Note from Phil Nadel
Forefront Venture Fund is the natural extension of Forefront Venture Partners, one of the most successful AngelList syndicates for the past 9 years. We are very proud of the syndicate’s investment track record to date. You can view the entire portfolio track record here. The Fund complements and works in conjunction with the syndicate. The Fund, however, enables us to make quicker and more definitive investment commitments in fast-moving deals than a syndicate allows.
The Forefront Venture Fund gives you several benefits:
- Subscribe for as little as $10k per quarter. Cancel any time.
- 0% management fee.
- Access to deals not available to the syndicate (i.e. either due to timing or investment amount).
- Saves you the risk of missing a deal from the syndicate.
- Saves you the time of having to review every syndicate deal.
- Distributions are paid out when realized and carried interest is calculated based on your subscription period. In other words, you must get paid back your entire subscription value before paying any carried interest. This is different from the syndicate model where LPs pay carry on each deal individually.
- Portfolio diversification. You will gain additional diversification in your portfolio as a result of the companies the fund invests in that are unavailable through the syndicate.
The Forefront Venture Fund will invest according to the same thesis as Forefront Venture Partners. It invests only in capital efficient, post-revenue companies that have significantly better solutions for pain points faced by large addressable markets. The Fund primarily invests in companies raising Seed, Series A and Series B rounds with valuations generally in the $5M to $50M range. We do more research and due diligence than any other early stage investor we are aware of. You can read more about our investment approach here or here and by listening to the podcast I co-host called The Pitch (like Shark Tank on a podcast).
Finally, we wish to emphasize our commitment to investor communications. We will provide you with detailed information about every investment the Fund makes at the time of each investment. We will also provide you with regular investor updates from each of our portfolio companies. These are usually monthly, but occasionally quarterly. As investors, we want to know what’s happening with the companies we invest in and how we can help them. And we know you do too.
Please email me with any questions at [email protected].
Phil Nadel
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$10,000
Minimum Subscription Period
4 Quarters
Management Fee
0%
Carry
Twenty percent (20%)
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
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. Last quarter, this fund closed $383.54k in capital. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Phil Nadel's personal subscription per quarter will be at least $5,000 with a quarterly cap of 5% of each quarterly fund's total committed capital in total.
Special Disclosure
Forefront Venture Fund intends to invest between approximately 20% and 35% of the capital committed to the fund each quarter into investment opportunities. Forefront Venture Fund will have first access to any on thesis investment opportunities and may share any excess allocations in these opportunities with other investment vehicles (including Forefront Venture Partners’ syndicates) once the Target Investment Amount has been invested.
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 Forefront Venture Fund'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
$10,000+ Quarterly
Subscription Period
4 Quarters
Management Fee
0% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account