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Network Ventures
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Subscription Amount
$8,000+ Quarterly
Subscription Period
4-20 Quarters
Management Fee
1.5% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2025, 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 Jeff Maters
Network Ventures is a Midwest-based, seed-stage venture capital firm focused on companies building network effects. The firm has backed over 60 founders and helped them work through their toughest problems to build world-changing companies. The portfolio includes: ShipBob (unicorn), ApartmentJet(acquired by Expedia), WithMe, Hunt Club, 86 Repairs, and EarlyBird.
I look to invest in 4-6 new companies a year and keep the funds small and focused. Every investment is important and should have the potential to drive meaningful returns for the fund. I look for companies that fit three criteria:
- Seed stage – Pre-seed (pre-product), seed (early revenue or user traction), and seed extension (solid traction but not ready to raise a larger round).
- Midwest-based – Heavy Chicago focus (50-70% target allocation) given the large tech ecosystem and our personal networks. The fund will also invest in the broader Midwest (20-30%) and opportunistically elsewhere if there is a founding team or market opportunity that I know well.
- Building network effects – Invest across a wide range of verticals in businesses that leverage the power of the internet and technology to build network effects (marketplaces, social networks, software platforms, etc.).
I’ve been investing in startups since 2000 and have supported startups across multiple cycles in the venture capital market. I work closely with each portfolio company and leverage an extensive network for deal sourcing, due diligence and portfolio support. I also work hard to leverage our own network effects, by tapping into the knowledge and networks of the firm’s portfolio company founders and Limited Partners.
I’m looking to expand our exceptional community of Limited Partners. To learn more, reach out to me at [email protected].
Jeff Maters
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$8,000
Minimum Subscription Period
4 Quarters
Management Fee
Investors pay management fees of 1.5% 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 2025, 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 last quarterly fund in this Rolling Fund Program closed $164k in contributed capital. 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 last quarterly fund in this Rolling Fund Program closed $164k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Jeff Maters' personal subscription per quarter will be with a quarterly cap of 2.5% of each quarterly fund's total committed capital in total. Jeff Maters will satisfy their GP commitment in part by waiving 50% of management fees otherwise owed to them by the fund. The remainder of the commitment will be contributed in cash.
Special Disclosure
Investors should beware that Network Ventures Fund II may be active during the Rolling Fund's deployment period and may make between one and two investments during the Rolling Fund's deployment period. The Fund Leads will have the discretion to offer to the Rolling Fund its investment opportunities. They are not obligated to do so and may invest via Network Ventures Fund II instead of through the Rolling Fund. It's possible that these investments generate greater returns, and, by potentially not participating in them, the fund's portfolio may become riskier or offer lower returns.
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 Network Ventures' 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
$8,000+ Quarterly
Subscription Period
4-20 Quarters
Management Fee
1.5% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2025, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account