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Draft Ventures II
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Subscription Amount
$10,000+ Quarterly
Subscription Period
1 Quarter
Management Fee
1.85% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account
Note from Artia and David
We're pre-seed and seed stage technology investors with a track record of eight unicorn investments including Notion, FabFitFun, Protocol Labs, Dfinity, and Cosmos, all of which we invested in at the seed stage. Other notable investments include Zipline, Thrive Market, Side Inc., and Subspace.
Draft Ventures has operated both as a direct investment fund investing our personal capital and as an institutional fund investing LP capital since 2015. Our direct syndicate investments on AngelList total value to paid-in capital is over 9.67x with an IRR of 69.6%. Our Draft Ventures Fund I total value to paid-in capital is 3.26x and IRR of 72.8%.
Select seed breakout companies in Draft Ventures’ rolling fund include:
- Stargaze (Invested at $49M valuation, now valued at $293M in less than 6 months)
- Copper Banking (Invested at $25M valuation, now valued at $125M in less than 9 months)
- Goldfinch (Invested at $45M valuation, now valued at $515M in less than a year)
We’re David Rodriguez and Artia Moghbel – our venture careers started a decade ago at Greycroft Partners, and we’ve since been investing in and operating tech companies. As COOs, we have operated companies from founding through Series E and acquisition and have collectively raised over $250M in venture funding as entrepreneurs from Andreessen Horowitz, Matrix Partners, Trinity Ventures, and others.
We welcome any questions and are available if you’d like to hop on a call or Zoom to discuss. Please feel free to send us a note at [email protected] and [email protected].
The investments and returns data above and accessible via external links may include investments made off of the AngelList platform. As such, AngelList has not taken any action to verify such data and makes no representations as to its accuracy or completeness. All investment value estimates and return multiples are calculated net of any fees, expenses or carry. The outcome for any unrealized investment is highly uncertain. For additional information, including calculation methodologies, please contact the Fund Lead directly. Past performance is not indicative of future returns.
Any companies and venture partners featured above and via external links are referenced due to their notoriety in the startup and venture capital community. These references 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.
Artia and David
Investment Details
Subscription Start Date
January 1, 2024
Minimum Quarterly Subscription
$10,000
Management Fee
1.85% per annum over each fund's 10-year life, payable quarterly over the first two years
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 $153.5k in capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Artia and David's personal subscription per quarter will be at least $25,000 with a quarterly cap of $25,000 in total. Artia and David 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.
Special Disclosure
Artia and David may allocate on-thesis investment opportunities to Draft Ventures I during its remaining investment period. Draft Ventures I's investment period is expected to end in Q4 2020.
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 Draft Ventures II'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
$10,000+ Quarterly
Subscription Period
1 Quarter
Management Fee
1.85% per year over 10 years
Carry
20%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account