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New Founding Venture Fund
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Subscription Amount
$50,000+ Quarterly
Subscription Period
1-16 Quarters
Management Fee
2% per year over 10 years
Carry
0-35%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account
Note from Joshua Abbotoy and Nathaniel Fischer
The New Founding team is establishing the New Founding Venture Fund, a vehicle to fund investments into its growing proprietary pipeline of early-stage companies seeking conventional venture funding (i) with a distinct right wing cultural thesis and/or (ii) that provide technology or infrastructure that is strategically valuable to the right.
The dominance of ESG-driven investing demonstrates increased recognition that commercial activity is a vital factor in shaping social norms and behaviors. Values-alignment plays an increasingly important role in both direct-to-consumer and business-to-business transactions. And yet, because few capital providers are willing to take the other side of ESG, we see a unique arbitrage opportunity.
Through its Deal Room and Accelerator, New Founding has created a strong proprietary deal flow with founders and early-stage companies who fit our investment thesis. Raising a fund will enable New Founding to deploy capital in a rapid (and yet selective) way into this growing deal flow. And investors will receive exposure to a diversified portfolio of disruptive new companies in an emerging space, through AngelList’s flexible “rolling fund” construct.
The fund will take positions in companies in the venture and early-growth, typically with valuations of under $100m, and most of its investments will be in the $50k - $1m range. There will be no multi-quarter commitment to the fund.
The carry has been designed to be lower-than-market in modest success scenarios, but higher to the extent that the fund sees high upside.
Joshua Abbotoy and Nathaniel Fischer
Investment Details
Subscription Start Date
October 1, 2023
Minimum Quarterly Subscription
$50,000
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
Fifteen percent (15%) after the fund realizes a 1.5X return, with an increase to thirty-five percent (35%) after the fund realizes a 3.0x return.
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.
GP Commitment
Joshua Abbotoy and Nathaniel Fischer's personal subscription per quarter will be with a quarterly cap of 2% of each quarterly fund's total committed capital in total. Joshua Abbotoy and Nathaniel Fischer will satisfy their GP commitment in part by waiving 100% of management fees otherwise owed to them by the fund.
Special Disclosure
Some of the Fund Leads for the New Founding Venture Fund Rolling Fund (the “Rolling Fund”) also manage a separate growth fund (the “Growth Fund”) with an investment thesis that partially overlaps with the Rolling Fund’s thesis. When, from time to time, a particular investment opportunity is greater than or equal to $500k (i.e., the allocation offered to the Fund Leads is at least $500k), the Fund Leads reserve the discretion to give the entire allocation to the Growth Fund.
Some of the Fund Leads also manage a professional services company which is a business unit of New Founding Corporation (“NFC”). NFC provides paid service to private companies. Portfolio companies of the Rolling Fund may become customers of NFC before or after receiving an investment from the Rolling Fund.
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 New Founding 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
$50,000+ Quarterly
Subscription Period
1-16 Quarters
Management Fee
2% per year over 10 years
Carry
0-35%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account