network0
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network0

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Subscription Amount
$25,000+ 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 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 Thomas Howard, II

I’m starting an AngelList rolling seed fund to make it easier for people to follow me on crypto investments. Since 2017, I’ve been lucky enough to have the opportunity to invest in some of the best entrepreneurs in the crypto space, and continue to see amazing entrepreneurs building inspiring products.

Having built two crypto companies(1 & 2), and in R&D for another, I often see very early-stage technologies that will shape the future of the industry and form strong relationships with budding entrepreneurs building groundbreaking products.

The general theme of the fund will be in the blockchain and decentralized technologies space. Specifically, some themes that I focus on are:
  • Any tools that enable the idea of the “Network State”
  • Separation of money and state, via programmable digital currencies
  • Decentralized finance and trading tools
  • Scalability and multi-chain infrastructure
  • Decentralized web
The ultimate goal is to help build a future where everyone has the “option to exit” to their own self-sovereign set of tools, should they find themselves without options in a system that works against their own interests.

If the system they are born into is a “network1”, their route to exit the metasystem is “network0”.

If you are not familiar with me or my thoughts, you can find some of my writings on Twitter, Medium, and Mirror.
Thomas Howard, II

Investment Details

Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$25,000
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 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 $19k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Thomas Howard, II's personal subscription per quarter will be at least $5,000 in total.

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 network0'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
$25,000+ 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 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