Beyond Impact Vegan Diversity Fund
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Beyond Impact Vegan Diversity Fund

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Subscription Amount
$5,000+ Quarterly
Subscription Period
1 Quarter
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
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Note from Claire Smith

Accelerating the transition to a kinder, cleaner, healthier world.

Introducing Beyond Impact

Beyond Impact has been investing in the future of food & materials since 2017, seeding several plant-based and materials tech companies. Our investment portfolio is nearly 35 companies in pre-seed, seed, Series A, and Series B rounds. We made 10 investments in the USA - Geltor, Back of the Yards Algae Sciences, MINK/EcoHyde, Wicked Kitchen, BlueNalu, EVERY, Emulate, Renewal Mill, Livekindly, etc. Experience in launching and managing multiple climate finance funds.
Beyond Impact is also part of the broader Beyond group of companies that comprises Beyond Investing (creator of the world’s first animal-friendly and climate-conscious stock market ETF) and Beyond Animal (a digital platform connecting the ecosystem of animal-free companies, providing support services and matching start-ups with investors).
As one of the pioneering investors in this field, Beyond Impact has an unparalleled deal flow and strong connections with many other larger investors in this arena, as well as having its own larger flagship fund.

You can see the investments that have been made to date at www.beyondimpact.vc.* 
These included renowned plant-based businesses and innovative firms making alternative proteins and cruelty-free products that are superior, scalable, and sustainable. 

Here are some examples:

Commitment to Diversity: 

Many of our existing portfolio companies are diverse at the founder and team level regarding gender and diversity. 

Out of our Beyond Impact Fund II (global vehicle) investments, more than 40% are led by visionary individuals from diverse backgrounds, including People of Color (POC)* and women. Additionally, 80% of these companies feature accomplished women in their C-suite, spanning roles from CEOs and CFOs to Chief Scientific and Chief Commercial Officers. The proportions of companies that we have invested in, by gender and diversity, are shown below.

Within our first fund, out of the 23 ventures, women established 47%, and a noteworthy 39% were established by People of Color (POC). These statistics significantly exceed the average within the venture capital industry.

Introducing the US Vegan Diversity Fund

Investing in the future of food and materials innovation, providing sustainable animal alternatives. 
The US Vegan Diversity Fund continues our successful approach of investing in early-stage companies whose solutions are superior, scalable, and sustainable across four market segments: (a) Protein replacement, using Plant-based, Fermentation, and Cellular agriculture technologies (b) Ingredients, enablers, and capacity builders (c) Cruelty-free products and animal testing alternatives (d) Alternative Bio-based Materials. We have a sophisticated investment thesis – we look for companies from the lens of ingredients, and biotech, with a patent / IP moat.
The size of the market opportunity across these four areas amounts to many trillions of dollars, considering the length of the entire supply chain from the animals themselves through to the products purchased by the consumer. A large part of this market is in North America. 
In addition to creating impact by avoiding the use of animals, we seek to invest in diverse founder teams. Our focus will be seed investments of $100k to $500k, with at least one founder being a woman or from a minority group.

Team

Beyond Impact has one of the strongest investment teams in the sustainable food & climate venture funds space and is one of the few global firms dedicated to this space. Beyond Impact actively supports & engages with portfolio companies by taking board seats and advisor roles and providing access to networks, fundraising, etc. The team boasts a diverse team whose members have decades of experience in finance and investment and have participated in dozens of relevant deals.
 


How does a rolling fund work?

Unlike a traditional fund mode, the rolling fund is a model where investors may subscribe to our deal flow directly with a quarterly capital commitment.

Like a traditional fund:
  • uncheckedIt charges management fees and has a fund-wide (crossed) carry across a pool of deals (not per-deal carry like syndicates).
  • uncheckedIt's a blind pool, so we can make quick and precise commitments to invest in fast-moving deals.
Unlike a fund, you can continue to make commitments over time and determine your commitment amount every quarter, raising and lowering it as desired. There's no locked-in commitment for the future.

As an asset manager, the benefit to Beyond Impact is that it can accept investments continually and put them to work, rather than having to spend time collecting a sufficiently large pool of commitments to then lock up and make investments over the following four years.

The net effect is that you subscribe to Beyond Impact's venture deal flow. You can raise or lower the capital that you put in every quarter depending on your confidence and desired risk exposure. And you don’t have to decide ahead of time how much you want to commit in total.
AngelList creates a series of quarterly funds underneath each investment and then does the calculations to cross the carry-on top to create a single "virtual fund."

*The lists above and accessible via external links may reflect investments made off the AngelList platform. AngelList has not taken any action to verify such data and makes no representations of its accuracy or completeness.

The lists of investments and investment partners featured above were selected due to their notoriety in the startup space and venture capital community. These lists 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.
Claire Smith

Investment Details

Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$5,000
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 Q1 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 platform’s average quarterly fund size is $580k. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Claire Smith's personal subscription per quarter will be at least $10,000 in total.

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 Beyond Impact Vegan Diversity 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
$5,000+ Quarterly
Subscription Period
1 Quarter
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 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