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Ligature
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Subscription Amount
$3,000+ Quarterly
Subscription Period
4-20 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 Daniel Scrivner & Dan Becker
🔗 Handy Links
Ligature is The Design VC. We use our deep background in design to find and invest in incredible companies. Founders want us on their cap table because we have deep hands-on experience building and leading design teams. We have a track record of adding tangible value far beyond an initial investment, which gives us leverage to get into the best companies out there.
With over 30 years of collective experience, we've built and led design work at iconic global companies like Apple, Square, Airbnb, Instagram, and Strava. In those roles, we’ve interviewed hundreds of designers, scaled design teams, shipped new products, led creative for global ad campaigns, and launched in new countries.
We first started investing in and advising companies nearly a decade ago. The founding partners made their first investment together in 2018 and haven’t stopped since.
Fund overview:
- $5M+ in AUM
- Deployed $3.3M in the last 12 months
- Returned 2.2x MOIC (68% IRR) since 2019 and 1.175x MOIC over the last 12 months
- Investors in 43 companies (Public, AtoB, Array, Hyphen, and more)
- Built an incredible community of over 150 operator LPs — including design, product, and engineering leads at Stripe, Airbnb, Coinbase, Meta, Block, Slack, Google, and Vector DAO.
Overview of our investment strategy:
- 70% Seed and 30% Series A
- 90% US and 10% Global
- 8-12 investments per quarter
- Sector agnostic, seeking the best opportunities across categories (incl. fintech, saas, proptech, ecommerce, and web3)
Our promise to LPs is incredible alignment:
- 22% carried interest over 1x hurdle rate
- GP commitment of 10% up to $30,000 per quarter cap
- Quarterly updates, mid-quarter deep dives on portfolio companies, and AMA sessions
A sample of our portfolio companies:
- Public.com - 15x MOIC | Bringing the best of stock investing to everyone
- AtoB - 8x MOIC | Fintech focused on trucking and transportation
- Array - 4x MOIC | White labeled credit reporting, instant loans, and more
- ZIINA - The best app to replace cash in UAE and MENA
- Levels - Metabolic fitness technology company
- Hyphen - Automated commercial kitchen operations
- Daisie - Daily live classes on film, music, design, and more
- Mood Health - Mental healthcare you’ll love
- Spark Grills - Charcoal grilling reinvented
- Guide - Next-gen candidate experience platform
- Brightland - The world’s best kitchen and home essentials
- Balsa - Helping product and engineering teams move fast together
- Bezel - Next-gen 3D design tool in the browser
- Sanlo - Building payments infra for gaming & consumer apps
- Kairos - no code NFT minting and launch platform
Still have questions? Look through our Pitch Deck, find answers to common questions in our Fund FAQs, or simply email us at [email protected].
Daniel Scrivner & Dan Becker
Interesting in investing with us, but not sure if the fund is a fit? Join our Friends of Ligature community by texting (415) 548-9028 to get access to exclusive drops and co-investment opportunities. We typically share 2-3 opportunities per quarter.
“Good design is just good business.” – Paul Rand
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$3,000
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 (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 $164.2k in capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Daniel Scrivner & Dan Becker's personal subscription per quarter will be at least 10% of each quarterly fund's total committed capital with a quarterly cap of $10,000 in total.
Special Disclosure
Investors should beware that Dan Becker and Daniel Scrivner will have the discretion to offer to the Fund their investment opportunities. They are not obligated to do so and may invest via other vehicles instead of through the fund. It's possible that these investments generate greater returns, and, by potentially not participating in them, the fund's portfolio may become riskier or offer lower returns.
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 Ligature'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
$3,000+ Quarterly
Subscription Period
4-20 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