Apply to
Project Voice Capital Partners Rolling Fund
Apply To Subscribe
Subscription Amount
$25,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2.25% 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 Bradley Metrock and Marc Ladin
Project Voice Capital Partners funds venture-grade early-stage companies across conversational AI and voice technology.
Companies working with language, whether the spoken word or the written word, whether audio only or multi-modal and visual in nature, along with various adjacencies (e.g. generative AI involving natural language processing) constitute the bulk of our deal flow. With Nuance’s $20B acquisition by Microsoft along with many other successful recent exits, the startup ecosystem in this area of emergent technology is vibrant and full of potential.
PVCP is led by Bradley Metrock and Marc Ladin. Metrock hosts influential podcast This Week In Voice, writes the Substack newsletter This Week In Voice VIP (30k+ subscribers), and programs the main conference for conversational AI and voice technology in the United States, Project Voice 2023. Marc Ladin is one of the early venture capitalists in the voice/AI domain, investing in the space for the last three years with his previous fund VoicePunch.
PVCP is proud to have as venture partners Adam Cheyer, perhaps the singular most successful entrepreneur in this domain, co-founding both Apple's Siri and Samsung's Bixby, along with notable Silicon Valley entrepreneur Cinta Putra. Noted artificial intelligence veteran Neil Jacobstein is technical advisor to the fund as well as Asia-Pacific venture scout.
This rolling fund model enables you to subscribe to PVCP’s deal flow directly with a quarterly capital commitment across a minimum of four (4) quarters.
Like a traditional fund, it charges management fees and has a fund-wide (crossed) carry. AngelList creates a series of quarterly funds and then does the calculations to cross the carry, functionally creating a single fund. The net effect is that you're now subscribing to our venture deal flow.
An important benefit is that we can raise money incrementally, one investor at a time, rather than having to do a one-time, big-bang fundraise. What has made rolling funds such a celebrated innovation is the ability granted to emerging managers, like us, to begin operating VC funds with less committed capital and with greater flexibility than other, more traditional formats typically afford.
Project Voice Capital Partners Rolling Fund will target investing in companies with valuations less than $25M. Most investments will be in the $50K - $500K range.
-----
Bradley Metrock and Marc Ladin
Investment Details
Subscription Start Date
October 1, 2023
Minimum Quarterly Subscription
$25,000
Minimum Subscription Period
4 Quarters
Management Fee
Investors pay management fees of 2.25% 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 $168.75k 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 $168.75k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Bradley Metrock and Marc Ladin's personal subscription per quarter will be at least $12,500 with a quarterly cap of $12,500 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 Project Voice Capital Partners Rolling 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
$25,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2.25% 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