Davidovs Venture Capital
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Davidovs Venture Capital

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Subscription Amount
$30,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2025, 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 Nikolai Davidov; Marina Davidova

Hi, we are Marina and Nick Davidovs, a family of founders. We make products and companies, invest in people, and enjoy giving back. 

We started DVC to offer a new way to do early-stage Venture Capital - leveraging the collective expertise and resources of a community of founders, engineers, and angel investors to source the investment pipeline and provide value to the companies we back. 

DVC is currently backed by 95+ investors, including many active unicorn founders, GPs of VC firms, and angel investors. Most of us have a tech background, some of us also bring finance, artistic or content creator experience. Active and most value-added investors in our community become Deal Advisors, Deal Captains, or Venture Partners in the fund and share the carried interest.

We focus on the areas where we have the best expertise and can provide maximum value, such as AI/ML/Robotics, and back repeat and experienced founders. We invest small checks into pre-seed and seed startups alongside top-tier VC firms such as Sequoia, Kleiner Perkins, a16z, Coatue, and Thiel Capital and then double (and triple) down with bigger follow-on amounts on consequent rounds. Our approach is tailored to invest in highly-competitive deals with startups founded by repeat founders, that are statistically more likely to become unicorn companies. 
Here’s how our portfolio looks so far.

Community-based-VC-as-a-product
Over the years, we’ve learned what it takes to run effective VC firms and communities that can provide value to their members with minimum friction. Combining this and scaling up increases complexity. For our model to work, we’ve got to make ~120 investments in 4 years, welcoming ~200 founders into our Discord and effectively including ~99 investors in the sourcing, due-diligence, deal-making, and portfolio management processes, so everyone has a chance to contribute. 

Since we’re product founders ourselves, our natural response to these challenges is to build a product. From day one, we perceived our community and the fund as products (we are, in a way, a managed marketplace) - doing customer development interviews, collecting stats and analyzing, measuring engagement, and building the best possible user journey. 
In addition to investment analysis and community management professionals, our team employs product managers and engineers that help bring automation into our process. We try to identify potential bottlenecks and build scripts to make our life easier. 

Currently, our core is based on an Airtable that stores most of our info and automates most of our investment processes, as well as investor relations, reporting, and working with portfolio companies’ asks. This Airtable is connected with RPA tools to email, Notion, Discord (that we use for the community chats), and various tools that we build ourselves (such as GPT3-based IntroDuck.ai - our double-opt intro automation tool that we’ll release later this year). We’re also “dressing up” our Airtable into a mobile-first UI so everyone can be an effective venture partner on the go.

Investment Thesis
Investment Focus: early-stage tech startups in the US founded by repeat founders

Target Areas: AI/ML/Robotics, Future of Work, Future of FinTech, Enterprise 4.0, EdTech, Creator Economy, Food/AG tech (IT/ML-enabled), Biotech (IT/ML-enabled)

Target Models: software, SaaS, opensource, platforms, developer tools, managed marketplaces, focus on recurring revenue models

Target Stages: Inception to Series A.

Target Check Size: $50-200k per deal as the first check. Larger checks for follow-ons within the portfolio.

Investment strategy: Make a large number of small early-stage deals (25-30 per year), identify winners, and follow on with larger checks increasing our shareholding above pro-rata in subsequent rounds. Offer LPs to co-invest via SPVs if our allocation is higher than the fund needs.

Pipeline origin: 30% Focused research (Review of key growth areas, identify key value-creating elements, find the best teams in there, get in), 70% from the community (intros by portfolio founders, investors, existing professional network of fund’s leads).

Portfolio management focus: Focus on creating maximum value per % ownership for portfolio founders through the community of investors, partners, and advisors of Davidovs VC.

Additional details: Each quarterly fund is a separate 10-year fund (Delaware Limited Partnership) with a 3 months investment period managed by Angel List. Every fund charges 2% of contributed capital as an annual management fee. Returns above the total sum (across all quarters) of the investment are subject to a standard 20% carried interest. 

Target Quarterly Fund Size: $1.5M per quarter in the first year, accept more capital to ramp up to $2.5M per quarter after 1st year (up to 50% of each quarterly fund after 1st year to be invested in follow-on deals)

About Nick and Marina:
We are repeat VC-backed founders and operators with more than 24+ years of combined experience investing as angels and managing venture capital firms across Europe and the United States (Gagarin Capital, iTech Capital). Our track record includes Ecwid (acquired by Lightspeed for $500M), MSQRD (acquired by Facebook), Prisma (app of the year on both Android and the App Store), and AImatter (acquired by Google).

In our professional and personal lives, we have always been driven by our values. We believe that integrity is the most solid foundation for optimism since the best future has to be built responsibly, transparently, and with an open heart. The very same values drive our investment strategy - we partner with founders that are helping propel society forward with their ideas, technology, and work. While usually occupying a tiny part of their cap table, we support the founders as much as possible. We will roll up our sleeves and help them iterate to find a product-market fit faster, tap into our network for expertise, strategize on their next round of funding, or just bring them coffee when they need it most. 


Please feel free to reach out to us at [email protected], [email protected], or [email protected] with any investment-related questions.
Nikolai Davidov; Marina Davidova

Investment Details

Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$30,000
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 Q1 2025, 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 $2.27M in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Nikolai Davidov; Marina Davidova 's personal subscription per quarter will be at least $30,000 in total. Nikolai Davidov; Marina Davidova will satisfy their GP commitment in part by waiving a portion 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 Davidovs Venture Capital'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
$30,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
2% per year over 10 years
Carry
20%
Admin Fee
0.15% per year over 10 years
Starting Q1 2025, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account