Have you had experience with Angel List 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.