Hi, I’m Kamal Ravikant. I've been building companies in Silicon Valley since the late 90's. My experience and relationships over the years give me access to some of the very best deal flow in tech.
My brother, Naval Ravikant
, is the advisor to this Rolling Fund. His record speaks for itself.
My thesis is simple: cherry-pick deals from the best investors (for example: Naval Ravikant, Tim Chang at Mayfield, Brian Norgard). Invest alongside at the same terms. These are often deals most cannot get in on.
Founders want me on their Cap table because:
- As a former founder, I'm very founder-friendly.
- I have a vast network of entrepreneurs I tap to help portfolio companies. This is practical, measurable help.
- I get founders in front of A-level Angels and VCs.
- I’m a well-known bestselling author and am often featured on national media. This level of influence allows me to promote portfolio companies to large audiences.
Overall, I back founders with capital, help them with my experience and network, and most important, stay out of their way. That is what my favorite investors did for me.
The result: I’ve never once lost out on a deal.
I mainly invest in seed rounds. This is highest reward, and for the best deals, the hardest to get into. My access to the best deals at this stage sets me apart.
I invest in later rounds only when it’s a great opportunity. For example, I invested in the C-1 round in Poshmark
at $130 Million. This later exited at an 8X multiple.
Startup investing is binary and hits-driven. So, my investing is the opposite of “spray and pray.” I regularly pass on good deals to save capital to invest into the great. This type of discipline and focus has proven itself repeatedly with my favorite investors as well as in my previous investments.
My last fund (I was the sole General Partner) had terms of 2.5% management fee and 25% carry. It has already returned more than the committed capital to LPs and is on track to conservatively return over 10X capital, all net of fees and carry.
The terms of this Rolling Fund are better for LPs. Standard 2% management fee, 20% carry.
: A Round at $18 Million valuation. Current valuation is $6.9 Billion.
: Seed at $72 Million Valuation. Current Valuation $11 Billion
: Seed at $9 Million valuation. Current valuation is $1.2 Billion
Cleartax: Seed at $15 Million valuation. Current valuation is $700 Million. Starkware
: Seed at $25 Million valuation. Current valuation is $8 Billion.
: A Round at $13 Million valuation. Current valuation is $2.5 Billion.
Each year I invested my first fund, I hit a Unicorn. This is not the norm in venture investing and I’m proud of the value I’ve created for my LPs. This Rolling Fund is my second fund.
A few examples of why I invested.
(Seed, Exit): During my diligence, when I spoke with Zooko, my reaction from the meeting was - “he was born to build this.” This wasn't another founder trying to capitalize on a hot trend. Additionally, the other investors in the round were well-positioned to help ZCash succeed.
(Seed, Exit): I knew the space well and was looking to invest in it. I flew from SF to NYC and met Ankur, the founder. I was beyond impressed. He had the right vision and experience to build the company this space needed.
At the time, he wasn't taking checks from investors, but I convinced him to take one from me, promising to help acquire brand name customers through my network. A year later, he told me that I turned out to be the most helpful investor he'd had. It made me especially happy when Teachable exited.
That $50,000 check returned over 20X.
(Pre-seed and Seed, exit 16X): This was pre-product. In my first meeting with the founder, I knew that he was one to bet on. It's been fun to watch Clearbit grow into a leader in its space.
Additional benefits for LPs
I’m helpful to founders and also to LPs. When appropriate, I’ve gotten LPs into sidecar investments on great deals. If this is of interest to you, please let me know after you’ve joined my Rolling Fund.
“Right from the time we became a real company we’ve had Kamal by our side and it’s been invaluable to have him…Frankly he’s shaped what this company’s become…Kamal has a very strong network and is very very generous and happy to share it…This company would not be what it is today without Kamal’s contributions.”
- Ankur Nagpal, Founder—Teachable (I was a seed investor)
“Kamal is one of my favorite investors without question. He's a recent backer of Bolt and really gets ecommerce, payments, internet marketing—all the things that will make Bolt hugely successful. Kamal is the definition of value-add and founder-friendly.”
- Ryan Breslow, CEO—Bolt (I was a seed investor)
“Kamal is a gifted investor with a unique combination of head and heart, and someone who offers not only valuable acumen and advice for founders, but also coaching and inner insight on all aspects of the entrepreneurial journey.”
- Tim Chang, Mayfield (We’ve co-invested together)
“Kamal is not like other investors. He comes at the craft by focusing and guiding the entrepreneur as if he is a mentor more than a classic investor. It doesn’t hurt that Kamal has one of the deepest personal networks in the business as well as amazing product taste. It’s all a very unique combination of passion, love, and faith.”
- Brian Norgard, former Chief Product Officer—Tinder (We’ve co-invested together. I am also a seed investor in his latest startup)
“Smart, transparent, and accessible are three adjectives I’d use to describe Kamal from an investor’s viewpoint. I’m very happy with the performance of the last fund, so am reinvesting in this one.”
- David B (LP in my last fund and this Rolling Fund)
I don’t invest in early stage tech startups outside of this Rolling Fund. It is my vehicle to create ongoing wealth through my access and experience. Also, I am an LP in this Rolling Fund, contributing at least 2.5% of capital each quarter. So, our incentives are perfectly aligned.
The investments and returns data above and accessible via external links may include investments made off of the AngelList platform. As such, AngelList has not taken any action to verify such data and makes no representations as to its accuracy or completeness. All investment value estimates and return multiples are calculated net of any fees, expenses or carry. The outcome of any unrealized investment is highly uncertain. For additional information, including calculation methodologies, please contact the Fund Lead directly. Past performance is not indicative of future returns.
Any companies and venture partners featured above and via external links are referenced due to their notoriety in the startup and venture capital community. These references are provided for illustrative purposes only and are not an exhaustive list of all investments made or involving the Fund Lead. A full list of the Fund Lead’s investment history will be made available upon request.