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MinervaFund
Apply To Subscribe
Subscription Amount
$10,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account
Note from Alexander Chompff, Rachel Zillner, Anne Descalzo, and Amy Wister
We are establishing a vehicle to fund early stage venture capital investments.
We know there are huge untapped potentials in our communities, that women and minorities are often passed over for investment, and that smart capital quickly deployed to address those oversights can build diverse portfolios and be in a position to enjoy elevated returns.
It is certain that no action will not only fail to create returns, it will leave those overlooked opportunities and people behind, and it will delay improvements which are needed in the world.
Therefore, we join together to quickly and intelligently deploy capital across a broad and diverse portfolio of early-stage opportunities, focusing on women, minorities, and early stage investment in whole and in part. In doing so, we will create opportunity and access, for both entrepreneurs and investors, through education and leadership.
Minerva Fund is weighted toward women- and minority-led companies both regionally and nationally and our goal is to maximize return potentials through:
- Diversification (opportunities to win)
- Due Diligence (appropriate risk management)
- Excellent deal flow (high-quality opportunities)
This is a model where you subscribe to our deal flow directly with a quarterly capital commitment. Like a traditional fund:
- It charges management fees and has a fund-wide carry across pooled deals (not per-deal carry like syndicates).
- It's a blind pool that we can use to make quick and precise commitments to invest in fast-moving deals.
Unlike a fund, you can change your commitment amount every quarter, raising and lowering it for future investments. There's no locked-in commitment for the future, as long as you exceed the minimum investment threshold.
The benefit for us is that we can raise money incrementally, one investor at a time, rather than having to do a one-time, big-bang fundraise and then lock the fund for four years.
Minerva Fund will invest in early-stage private companies with a focus on traditionally underrepresented founders, including but not limited to women and persons of color. Most investments will be in the $25-150,000 dollar range.
Alexander Chompff, Rachel Zillner, Anne Descalzo, and Amy Wister
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$10,000
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 (annualized)
$2.5k + 0.2% of contributed capital
*This Rolling Fund is currently in its first two quarters. Each Rolling Fund’s first two quarterly funds will pay an annualized rate of $800 + 0.2% of contributed capital over 10 years. In subsequent quarters, each quarterly fund 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
Alexander Chompff, Rachel Zillner, Anne Descalzo, and Amy Wister's personal subscription per quarter will be at least $10,000 with a quarterly cap of $10,000 in total. Alexander Chompff, Rachel Zillner, Anne Descalzo, and Amy Wister will satisfy their GP commitment in part by waiving 90% of management fees otherwise owed to them by the fund. The remainder of the commitment will be contributed in cash.
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 MinervaFund'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
4-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account