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Shaan and Romeen’s Angel Fund
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Subscription Amount
$12,500+ Quarterly
Subscription Period
4 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q4 2024, 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 Shaan Puri and Romeen Sheth
What We Do ⭐
We invest in founders going after massive opportunities.
The next Stripe, Facebook, and Salesforce are being built right now - it’s our job to find them and invest.
Over the last few years we’ve invested in 100+ startups, and each year our network and access to top deals grows.
Our Strategy⭐
We invest an average of $150k into companies as early as possible (with occasional later stage exceptions).
We don't focus on a specific vertical. We just look for companies that are built like a formula1 car, designed to grow fast.
A few of our well-known investments: Replit, Deel, TripleWhale, etc. all fit this mold.
Now - why should you invest in our fund?
Good question.
We think there are 3 ways to win in venture: (1) be a super well known brand (think Sequoia, A16Z, Founders Fund), (2) be hyper focused on a specific space (think: Craft in SaaS, Paradigm in Crypto, Ribbit in Fintech) or (3) be someone the best founders respect/admire and want as an investor.
We’re the third type and that’s what we believe will consistently get us into the best companies.
Here’s how we think about it:
1. Create epic content / build a big audience
We have big personal brands:
- Collectively 500k+ Twitter followers
- My First Million (Shaan’s podcast) has grown to ~25M downloads a year
- The Milk Road (Shaan’s newsletter) became the fastest growing crypto newsletter with 200k+ subscribers
- Romeen hosts Gametime - an invite-only conference for ~100 founders, investors and professional athletes every year. This year, attendees included owners of 3 NBA teams, 30+ NBA and NFL players, 15+ unicorn founders.
- Shaan hosts Camp MFM - an invite-only event for ~25 founders. This year in addition to all the founders, we had influencers like Mr. Beast and Hasan Minhaj attend.
2. Get into great deals
Content helps keep us top of mind for the best founders (and investors); distribution also helps us accelerate the companies we invest in. Many of our investments have been in Founders that have reached out to us inbound to include us in their rounds.
Performance ⭐
Over the last ~2 years, we’ve invested ~$10M. Today the portfolio is marked at ~2x. It’s early but we already have some emerging breakouts in the portfolio.
Structure ⭐
We do a standard 2/20 model (2% management fee, 20% carried interest). We write quarterly fund updates outlining breakout companies as well as new investments we made and why we like those deals. We also have a community on slack for our investors to join and meet each other.
—
If you have any questions feel free to reach out to Shaan ([email protected]) or Romeen ([email protected]).
Thanks and look forward to investing together!
- Shaan Puri & Romeen Sheth
Shaan Puri Romeen Sheth
Investment Details
Subscription Start Date
October 1, 2023
Minimum Quarterly Subscription
$12,500
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 Q4 2024, 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 $675.25k 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 $675.25k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Shaan Puri and Romeen Sheth's personal subscription per quarter will be with a quarterly cap of $20,000 in total. Shaan Puri and Romeen Sheth will satisfy their GP commitment in part by waiving 100% 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 Shaan and Romeen’s Angel 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
$12,500+ Quarterly
Subscription Period
4 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q4 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account