Ride Home Fund
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Ride Home Fund

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Subscription Amount
$5,000+ 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
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Note from Brian McCullough

Ride Home Fund

A unique early-stage fund with distribution built in.

The Ride Home Fund is built on top of the Techmeme Ride Home podcast. For five years, 70,000 people have reliably made it a habit to listen to the Techmeme Ride Home podcast to get their daily tech news roundup. And these are not just random listeners. These are some of the most plugged-in technologists, developers, founders, startup workers, venture capitalists and tech journalists in the world. Everyone from the grunts in the trenches working to make startups happen to the C-Suites of FAANG companies are our loyal fans. People don’t listen to the Techmeme Ride Home just for entertainment. It is “news you can use” for folks who are operating in the tech industry. You will not find a better agglomeration of ACTIVE tech industry folks anywhere in one place.
The podcast gives the fund three things: unparalleled deal flow, a unique advantage to get into deals, and a platform that early-stage companies can't get anywhere else.
  • Deal Flow: Founders in the audience bring us their best ideas first, because they know us and trust us. It's not unusual for our first Zoom calls with companies to start out with the founders saying, "I gotta geek out for a second and tell you how much of a fan I am. I've listened for years."
  • Getting into deals; Founders in the audience know the value of our megaphone because they've heard their idols on the show and know anyone who's anyone in tech will hear them when they come on the podcast.
  • The Platform: We allow companies to launch their legend in their own words.
We offer every portfolio company the opportunity to come on the podcast whenever it is most useful to them. Sure, we can help portfolio companies get written up in TechCrunch, for maybe a sentence or three quoted in the end. But why not ALSO come on the podcast for an hour and talk about what you're doing in your own words?

Portfolio companies that have come on the podcast have:

  • Launched out of stealth, ala Product Hunt
  • Closed their rounds when other investors got in touch after hearing their story.
  • Hired fundimental team members like CTOs or co-founders.
  • Landed their first 1,000 customers.
  • Landed major partnerships/sales contracts that dramatically accelerated their path to product/market fit.
We've never been turned away from a deal we wanted to get into (as of Oct 2022).

That is because of the above. Think about it: our money is as green as anyone's. We write smaller checks so we don't crowd anyone else out of allocation. So why NOT take a check from us? It's like a free option on marketing and distribution that can be incredibly powerful at the early stage.

The Fund.
The Ride Home Fund mostly focuses on Pre-Seed and Seed-stage companies, but does go to Series A and even B on occasion, in tech companies or companies creating consumer facing products that are tech adjacent. In terms of area breakdown, we do a lot of SaaS, developer tools, software platforms, consumer tech, a bit of web 3, and even a biotech or two. We target $75k-$250k checks and follow-on where strong conviction warrants.
We source deals primarily from the audience, but our growing reputation has created a bonanza of referrals. We also share carry with members of the audience who provide meaningful facilitation of deal introduction and consummation. And that's one more hidden secret sauce of the fund. The existing LP's are as connected and impressive as the podcast listenership itself. The combination of these two audience funnels is augmented by deals surfaced by my friends, who are also active angels. The meshing of all these funnels allows us access to some of the most interesting ideas before others even see them.

Who is the GP?
I’m Brian McCullough. You might know me from such podcasts as the Techmeme Ride Home and the Internet History Podcast. I’m the cofounder of Ride Home Media. I wrote the book How the Internet Happened: From Netscape to the iPhone. I was an inaugural member of the TED Residency program in 2016. Before all that, I’ve been a serial founder including WhoToTalkTo.com and ResumeWriters.com, which was founded all the way back in 1999.
For the tooting my own horn bit, I believe I am a uniquely positioned GP. On the one hand, I’m a respected tech industry historian as well as an industry veteran. If history proved a perfect guide to the future, then historians would run the world. That of course is not true (apologies to Hari Seldon), but it does mean I have a deeper grounding in the long arch of technology than most. Combine that with the fact that my day job (with the Techmeme Ride Home podcast) is to literally trendspot and understand the underlying currents of the industry’s evolution in real time. Every day, to produce the show, I spend 8 hours reading hundreds of articles, writing thousands of words, literally calling the trends we’re seeing as they happen. I already do what VC firms pay teams of analysts to do.
And I’m a three-time founder. I know what founders face, what they need, and what they don’t know they need. I’ve gotten a good sense for what founders are equipped for their role, having worked with so many over the last 20 years.

That’s The How. Now For The Why.
If I do have an overachieving thesis for investing over the next couple of years, it is that the “it just works” era of the modern technology industry is only now coming to life. This means the realization of efficiencies. And when I say, “efficiencies”, I mean software continuing to eat the world; APIs all the way down; No code; SaaS for everything, all that good stuff.
Efficiencies are what made me fall in love with tech in the first place. Things you couldn’t do before you made everything in the world “smart”. We’re seeing this realized now, whether it means renting out underutilized real estate, or restaurants implementing the lessons that Starbucks learned over the last decade with mobile/infinite ordering, allowing people to make money expressing their passions in the creator economy, or launching autonomous solar powered sailing ships to cruise the oceans to monitor climate change.
My mother likes the say that the modern era is all about it being “impossible NOT to know.” Impossible not to know. Anything. Everything. That is the realization of efficiencies that I’m talking about. You can take that from the obvious example of how you used to stand on a street corner and not see a cab when you needed one, even though three were probably a block over from you without you knowing. It also means even a small business owner being able to deploy cutting edge analytics and operations platforms without the need to know even a lick of code to make it work. I mean, what even is SaaS and no-code and all the rest of it, other than eliminating inefficiencies and abstractions via actionable data to make everything work better?
The “it just works” period of the Internet Era will be about all the abstractions ironed out, in every nook and cranny of everyday life, from the profound to the mundane... to achieve efficiencies as often as scale. Our job is to pick the companies that will do this the best, and if we do, the scale will take care of itself.

Summary of Terms
  • Fund Structure: Rolling quarterly
  • Targeting 10% deployment of funds for follow-on opportunities
  • Management Fee: 2%
  • Carried Interest: 20%
  • GP Commitment: $15k per quarter for the first year; switched to at least $5k a quarter beginning Q5; switched to cashless contribution of management fees beginning Q9
  • Minimum Investment: $5,000 a quarter
  • Minimum Investment Term: 4 quarters
  • Fund Admin: AngelList
  • Communications: Quarterly investor update emails. Scheduled LP Zoom calls.
  • We invest in 20 - 25 deals per year.
I appreciate your interest in the Ride Home Fund. Please let me know if you have any questions.
But also: join me, won’t you?
Brian

Investment Details

Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$5,000
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 $282.5k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Brian McCullough's personal subscription per quarter will be at least $5,000 with a quarterly cap of $5,000 in total. Brian McCullough will satisfy their GP commitment in part by waiving a portion of management fees otherwise owed to them by the 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 Ride Home 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
$5,000+ 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