Have you had experience with AngelList rolling funds? What are the pros and cons?
Rolling Funds by AngelList are a distinct product for part-time amateur or prosumer fund managers. The pros are:
- They are easy to set up
- There are tools to manage them
- They have a community of opportunities
The cons are:
- The manager is a consultant, not an owner of the fund
- Managers do not get fund credit for their track record
- The fees and expenses are very high
As a rule, VC Lab and Decile Group do not support Angel List products because they are designed for managers that are not serious about the craft of running a venture capital firm.