Sahil Lavingia Rolling Fund
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Sahil Lavingia Rolling Fund

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Subscription Amount
$6,250+ Quarterly
Subscription Period
1-16 Quarters
Management Fee
2.5% per year over 10 years
Carry
20-30%
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
Message Fund Leads
Closing Documents
FAQ

Note from Sahil

Hi! I'm Sahil. I am the CEO of Gumroad, a company I solo-founded in 2011 and raised $10M+ for, from Kleiner Perkins, Lowercase Capital, First Round Capital, Naval Ravikant, Max Levchin, and others. You can read about that journey here. Today, Gumroad is at $10M ARR, growing 120% year over year, with a team of 10.
Deal flow
This is more important than my thesis. I have access to high-quality companies from around the world, because...
Founders (and investors) know me:
  • I have a fast-growing audience of current and soon-to-be founders who respect me because I candidly share my learnings from starting, growing, and operating a successful business in a burgeoning space (the creator economy).
  • I have a strong network from living in Silicon Valley and tweeting from afar. See LPs below.
Founders want me on their cap table:
Examples of my success getting into deals:
  • Invested in HelloSign as an 18-year old kid with no track record, after attending YC’s Demo Day by cold emailing Paul Graham. (There I sat next to Jack Abraham, who I told should invest in Pinterest; he invested at a $5M valuation.)
  • This timely tweet got 200K impressions, led to 200 emails, and 4 checks wired (plus this fund!): https://twitter.com/shl/status/1267471126571057158
  • Getting into Figma and Lambda School
Select investments
Note: I invested rarely, doing so only as an early employee (#2) at Pinterest and then after Gumroad became profitable. I was 100% focused on Gumroad from 2012-2016.
Third-party quotes included in these materials should not be construed in any way as an endorsement of AngelList's advice, analysis or other service rendered to its clients.
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.
Sahil

Investment Details

Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$6,250
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 thirty percent (30%) 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 $550.59k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Sahil will satisfy their GP commitment in part by waiving 60% 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 Sahil Lavingia Rolling 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
$6,250+ Quarterly
Subscription Period
1-16 Quarters
Management Fee
2.5% per year over 10 years
Carry
20-30%
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
Message Fund Leads
Closing Documents
FAQ