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Mentors Fund
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Subscription Amount
$10,000+ Quarterly
Subscription Period
10 Quarters
Management Fee
2.5% per year over 10 years
Carry
20-35%
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.
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Note from Mentors Fund II Management, LLC
MENTORS FUND II HIGHLIGHTS
Unique Partnership: Mentors Fund is an early-stage venture fund group with over 70 partners who, as founders, have created over $12 billion of shareholder value and as corporate leaders have served as CxOs of Fortune 500 companies. This unique partner network allows us to source, invest in, and mentor tech startups transforming industries and impacting society at scale.
Unfair advantage: With over 70 partner networks funneling in deals, Mentors Fund gets an extraordinary volume of high-quality deal flow. Our partners' entrepreneurial experience and industry connections make us especially attractive to founders and give us an uncommon advantage in accessing highly sought-after deals and oversubscribed rounds.
Exceptional Performance: The advantages of our differentiated setup and approach have helped Fund I perform in the Top quartile range for 2017-2020 vintage funds when compared to the Cambridge Associates benchmarks. Across 50 investments, the top 10% of our portfolio each have valuations in excess of $100m, 95% of our companies have successfully raised further funding, and we have had one write-off to date.
Backing Incredible Founders: Being inclusive isn't hard. We have backed some incredible founders without creating artificial targets for diversity. The result has been that 30% of our portfolio company founders are women entrepreneurs, and 55% of our portfolio company founders are under-represented entrepreneurs!
New Opportunity: Mentors Fund II provides an opportunity for potential LPs to join this network, add value to remarkable startups, gain value from their success, and support their vision to transform society.
OUR PARTNERS
We are a group of 70 founders, operators, business leaders, researchers, and investors who work together to identify and back entrepreneurs leading tech-enabled transformation of traditional sectors. At the heart of this group are Investment and Operating Committees that ensure rapid diligence and a decision-making process that prioritizes the entrepreneurs’ time.
Startup founders value our partners’ entrepreneurial experience in building and scaling teams and companies: they actively seek our guidance as we have been on the same startup journey they are on, having raised billions of dollars of capital, and started companies that have created over $12 billion of shareholder value. Founders also value the corporate connections and acumen of our partners who are CxOs at Fortune 500 companies and who can open business development and corporate development doors for young startups.
Here is a link to our group of partners.
TOP TRACK RECORD
We started Mentors Fund I in late 2017 to invest in early-stage enterprise technology companies from Pre-Seed through Series A. Our group of 70+ partners brings unmatched industry experience and contacts to help our companies overcome startup challenges and succeed at scale.
Over the last four years, we have invested in 51 companies from Mentors Fund I. While still relatively early in our own journey, the fund has generated 29% IRR and 1.41x multiple over a weighted average 18-month holding period. Our portfolio is performing in the top quartile range when compared to the Cambridge Associates benchmark.
Some of our past investments include:
- Quit Genius - 2019 Seed. Series B w/ Octopus Ventures
- Alyce - 2017 Seed. Series B w/ General Catalyst
- RealWear - 2017 Seed - raised Series B
- Akido Labs - 2018 Seed - has since raised Series A
- Roo - 2019 Pre-Seed - has since raised Series Seed with Floodgate
- Zadar Labs - 2020 Seed
A full list of past investments can be found here.
DEALFLOW
Our Network of Networks structure gives us access to high-quality companies. We typically get introduced to founders through various networks and have developed a robust proprietary deal flow process. Due to our unique partnership structure
- The corporate, alumni, and personal networks of 70+ partners
- Founder Network: Past Portfolio Founders, Incubator networks
- 50+ Active portfolio companies. In addition, we have pro-rata investment rights in some of our Fund 1 investments which we can invest in through Fund 2
- We live and hire globally - distributed partners and portfolio companies with “boots on the ground” in San Francisco, Austin, Boston, New York, Los Angeles, London, Dubai, South Asia, and Japan - we see deals from
INVESTMENT STRATEGY
We invest first and foremost in exceptional entrepreneurs. We gravitate towards startup teams that have an insider’s expertise in an industry ripe for technology-led transformation. We are bullish on the impact of AI, SaaS, and Digital Marketplaces on Healthcare, Future of Work, Agriculture, Logistics, and Finance.
- Target deployment: $15m over four years in 50+ new companies
- Stage: Our focus is pre-Seed and Seed rounds, with active follow-on participation where available
- Markets: Technology-led disruptions of traditional sectors such as Healthcare, Retail, Logistics, Agriculture, Finance.
- Syndicates: In opportunities where we have a large allocation, we may run SPVs to syndicate on a deal-by-deal basis
- Investment Rate: 3-4 companies per quarter
BENEFITS TO LPs
- Exceptional deal-flow: Access to quality deals channeled from the high value networks of a group of 70+ partners, advisors, and portfolio entrepreneurs. Monthly deal memos on every company that we invest in.
- Invitation to oversubscribed rounds: The breadth of our partner network and its attraction for entrepreneurs gets us uncommon access to highly sought-after (“hot”) deals.
- Deal diversity: With a plan for 50+ deals ranging in maturity from Pre-seed to Seed to Series A, in industries spanning Health, Finance, and Agriculture, LPs get strong portfolio diversity.
- Interest alignment: Our Fund Lead invests alongside our LPs, aligning financial ROI for both groups. Moreover, being staffed with entrepreneurs and operators, our group of partners defines success not in terms of individual returns but as overall value creation: as (a) the value they give to our portfolio startups, and (b) the value they get back for our partners.
- Mentorship opportunities: Our LPs have the opportunity to engage with our portfolio company founders and help guide them. We also have exclusive investors-only and investor-founder events.
CONTACT US
>> For more details, email us at: [email protected] or visit our website: www.mentors.fund
*The information provided here and accessible via third party links may reflect investments made off 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.
Any portfolio of investments and investment partners provided by the Fund Lead 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.
The Fund Lead is not required to present all investment opportunities to the Fund.
The Fund Lead may have the opportunity to participate in investments via other funds or personally. While the Fund Lead has the discretion to offer to the Fund its investment opportunities, they are not obligated to do so. It is possible that these investment opportunities may generate greater returns than other opportunities, and thus, by potentially not participating in such investment opportunities, the Fund’s portfolio may yield lower returns than it would otherwise.
Mentors Fund
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$10,000
Minimum Subscription Period
10 Quarters
Management Fee
Investors pay management fees of 2.5% 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%), with an increase to twenty-five percent (25%) after the fund realizes a 2.0x return and an increase to thirty-five percent (35%) after the fund realizes a 3.0x return.
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 $326.38k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
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 $326.38k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
The individual members of the Mentors Fund II Management, LLC's aggregate personal subscriptions per quarter will be at least $100,000. This GP commitment will be satisfied in part by waiving 100% 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 Mentors 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
$10,000+ Quarterly
Subscription Period
10 Quarters
Management Fee
2.5% per year over 10 years
Carry
20-35%
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