Apply to
Roger Dickey’s Rolling Fund
Apply To Subscribe
Subscription Amount
$10,000+ Quarterly
Subscription Period
2-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account
Note from Roger
I’m the founder & CEO of Made Renovation. I wrote my first check in 2010 and have since been lucky enough to back 12 unicorns and 11 additional companies worth over $100M. As an experienced operator, having sold a company, scaled through IPO, raised $40M from tier-1 investors, and managed a 300+ person organization, I bring a unique advantage in my ability to recognize promising founders and to help them win.
I am a full-time operator which means I am not a full-time investor. As such I may limit the size of this fund to an amount I can reasonably deploy while focusing on Made Renovation. Speaking of Made, given sufficient interest from LPs I may invest this fund into future rounds of financing for Made.
More about me below. I look forward to working together! Please reach out if you have any questions.
Operating experience:
- Sold bootstrapped, profitable gaming company to Zynga in 2008
- Founded Mafia Wars which did $1B+ in total revenue
- Part of executive team as Zynga scaled 10x YoY to IPO
- Founded Gigster which served 10% of the Fortune 500 and has done $100M+ in total revenue
- Raised $32M from a16z, Greylock, Redpoint, Bloomberg, Marc Benioff, Michael Jordan
- Founded Made Renovation, a home renovation company backed by Founders Fund
- Started coding in 3rd grade, hold 8 engineering patents
- Mentor at Disney Accelerator and Thiel Fellowship
Select investing experience*:
- Seed investments or advisory roles in 12 unicorns - Opendoor, Nest Labs, Rappi, Astranis, Mux, Docker, Addepar, Boom Supersonic, Function of Beauty, Asia Innovations Group, and TopTal.
- Other select investments - ClassDojo (General Catalyst backed), OpenGov (a16z backed), Lambda School (GV backed), Flock Safety (Founders Fund backed), Affinity (8VC backed)
- Select exits - Streamlabs (sold to Logitech), Spool (sold to Facebook), Wanderfly (sold to Tripadvisor), iCracked (sold to Allstate), Toro Metrics (sold to Google), Wanderable (sold to AirBnB), RolePoint (sold to Jobvite), Identified (sold to Workday), Jobstart (sold to Stripe), Unsplash (sold to Getty Images)
How I find and access deals:
- Have lived in SF bay area 12 years
- Have attended 25+ accelerator demo days including 15+ YC demo days
- Large online following on Twitter, Medium
- Close ties to valuable networks - YC, prop-tech community, Zynga, Gigster & Made investors, early Facebook platform founders, search lab founders
- Regularly run social events for local tech founders
- Extensive history of speaking engagements including Stanford, MIT, Berkeley, UC Hastings, Wharton, IIT Delhi, Girls in Tech, Aspen Institute, a16z Summit, The Economist Innovation Forum, Accenture Innovation Forum, IBM Interconnect, Silicon Valley Bank CIO Summit
My investment thesis:
- High-ticket SaaS - as more labor is replaced through software, SaaS prices will grow and more expensive, impactful products will have more lock-in
- Professional networking - the modern worker, and especially newer generations, will find new ways to connect & exchange value outside of Linkedin
- Property tech - our largest asset will continue to be disrupted by new financial instruments & technologies
- E-commerce - currently only 12% of commerce, it will continue to eat retail and longer-tail offline commerce
- Micro entrepreneurship - more people will start their own side hustles & small businesses as work becomes more scarce
- Personal finance - as the economy rapidly and unpredictably changes, people will need more help to understand how they can keep up
- No code - business automation will move to largely being done by smart non-engineers
- Vertical social networks - people will branch out from monolithic networks like FB, Instagram to seek more intimate and tailored communities
- Risk assumption - more companies will assume risk (eg through ISAs) to deliver value to customers
- Brick & mortar V2 - as e-commerce eats retail the face of B&M will change, requiring new use cases
- Remote work - many more people will work remotely, and even within the same office, staying in sync is a universal challenge resulting in billions of hours of wasted time
- Premium - the top 1% is getting richer and will demand new, better, and more personalized products & services
- New entertainment formats - we will want to consume more entertainment over time, of new types and in new formats
* The investments and returns data above and accessible via external links may include investments made off of the AngelList platform. As such, AngelList has not taken any action to verify such data and makes no representations as to its accuracy or completeness. All investment value estimates and return multiples are calculated net of any fees, expenses or carry. The outcome for any unrealized investment is highly uncertain. For additional information, including calculation methodologies, please contact the Fund Lead directly. Past performance is not indicative of future returns.
Any companies and venture partners featured above and via external links are referenced due to their notoriety in the startup and venture capital community. These references are provided for illustrative purposes only and are not an exhaustive list of all investments made or involving the Fund Lead. A full list of the Fund Lead’s investment history will be made available upon request.
Roger
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$10,000
Minimum Subscription Period
2 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 (annualized)
$2.5k + 0.2% of contributed capital
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. Last quarter, this fund closed $122.45k in capital. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Roger's personal subscription per quarter will be at least 2.5% of each quarterly fund's total committed capital. Roger will satisfy their GP commitment in part by waiving 20% 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 Roger Dickey’s 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
$10,000+ Quarterly
Subscription Period
2-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account