Apply to
Climate Avengers
Apply To Subscribe
Subscription Amount
$5,000+ 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 Kyle Cherrick
Welcome to the Climate Avengers
Watch our Avengers Fund Intro Video
Refer A Startup: Want to refer a great startup to the Climate Avengers? Complete this quick form.
Avenging the Climate
One Investment in an Audacious Team
At a Time
Two important realities are the driving force behind the Climate Avengers Rolling Fund:
1 - “We have 12 years to avoid climate change catastrophe” - UN IPCC report 2018
I’ve spent my entire 15 year career founding and working in climate tech startups. After starting my own angel investing in 2014, I spoke with too many founders who were banging their heads against the wall talking to generalist investors who didn’t understand or believe in the climate tech market.
Climate Avengers is here to support those founders. We’re backed by our LPs who believe with us that venture capital holds the ability to unlock gigatons of carbon reduction by scaling up promising new technologies created by the next generation of ambitious founders.
Launched in 2021, Climate Avengers VC has been building a broad portfolio of climate focused startups attacking many different industries. Our rolling fund is designed to be able to move quickly to back the most promising startups in climate and provide that access to our investors who seek to support positive climate impact while pursuing venture scale returns.
The rolling fund will primarily write $25K - $50K checks into late Preseed, Seed and Series A stage startups. We expect any extra allocations to be filled by the rolling fund LPs. In some cases where we have additional allocation available, we may open the SPV up to the broader Climate Avengers syndicate. The LPs of the Rolling Fund will get first access to increase their investment in these companies.
The expected cadence is 3-5 investments per quarter and the minimum commitment is $5,000 for two quarters so that LPs will have a minimum amount of portfolio diversity. We encourage investors to plan for longer commitments to increase their portfolio diversity and improve the likelihood of Avengers investing their money in a company that returns more than the entire fund.
If you’re passionate about avenging the climate and ready to put your capital to work backing the next generation of great founders, we invite you to join us.
Remember, you can automate your climate avenging inside your retirement plans by investing into our rolling fund out of your Self Directed IRA. I use AltoIRA who has a great AngelList integration and many of our LPs have worked with them as well. Venture investing is a long term (10-year) decision with potential for outsized returns. These investments may fit well within your retirement planning. Most high net worth investors keep 10-20% of their net worth in higher risk / higher return categories including venture.
Kyle
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$5,000
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
two 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 $85k in capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Kyle Cherrick's personal subscription per quarter will be at least $5,000 in total. Kyle Cherrick will satisfy their GP commitment in part by waiving a portion of management fees otherwise owed to them by the fund. The remainder of the commitment will be contributed in cash.
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 Climate Avengers' 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
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