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Slykcess Fund
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Subscription Amount
$15,000+ 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 2024, 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 Timothy Parsa
👋 Hi, I’m Tim Parsa.
Over the past 11 years I’ve co-founded four fast-growing VC-backed fintech startups: Uphold, Airtm, Cadoo, and Slyk, as well as a blockchain protocol, the Air Protocol..
Most recently, I am the co-founder & CEO of Slyk, a fintech platform that makes it easy for idea-stage startup founders to launch fast, grow fast, and raise money fast from their community.
The Slykcess Fund will invest in fast-growing tech startups raising their first capital via earn-to-own community on Slyk.
General Partner 💪
My name is Tim Parsa and I believe Founder Energy is the most valuable resource in the universe and that there is a lot of opportunity to improve on how Founder Energy is harnessed to build valuable startups.
I founded my first startup, Todito, in 1998 in Mexico (Tweetstorm about it here) and grew it to be the #2 Internet Service Provider in the country (Todito Card), beating corporate offerings from global telcos. Todito Cash, a pre-paid e-money account, was the first Mexican Peso e-wallet in the world and is still operating 20+ years after launch.
In 2012 I read the bitcoin whitepaper and soon after started building Uphold (originally called Bitreserve) a BTC-connected e-wallet and exchange, one of the first in the U.S. I built Uphold with Slyk’s CTO Jorge Pereira, who I hired to be Uphold’s founding CTO.
Jorge and I built Uphold with an open API and I prioritized incubating and investing in the development of startups that leveraged Uphold’s digital money platform, including projects that would become Airtm and Cadoo.
In 2019 I co-founded the Air Protocol with the founding CTO of Airtm, a blockchain-agnostic peer-to-peer fiat/crypto exchange protocol.
I believe centralized platforms will inevitably be replaced by AI-coordinated and decentralized play-to-learn/earn/own networks powered by blockchain-based cryptoassets, and that peer-to-peer exchange is indispensable to this transition.
My father was an immigrant doctor from Iran and my mother was a nurse raised working class in Brooklyn, NY. They taught me the value of hard work and grit, as well as the importance of helping others cultivate their talents. I have found the highest expression of these values in building purpose-driven startups and mentoring young founders to do the same.
I earned a B.S.in Biology from Yale and am a U.S.-trained lawyer (NYU Law School) sworn before the bar of New York State.
I am fluent in French and Spanish, the latter due to living in Latin America for 15+ years, first in Guatemala as a Peace Corps Volunteer and later in Mexico City as head of innovation for Grupo Salinas.
My talent stack of tech entrepreneurship, content creation, science, Spanish fluency, and legal chops makes me a valuable ally to a wide variety of startup founders, especially those targeting frontier (geographic and technology) markets with AI and fintech.
Track Record 🎯
Uphold ( 2013) was one of the first blockchain-and-bank- connected e-wallets and exchanges in the U.S. (alongside Coinbase) and has a liquid secondary market for its shares (10X pps vs. Series A).
Airtm (2015) completed its Series B in 2021 led by the Stellar Foundation and also has a liquid secondary market on BanktotheFuture (5X pps vs. Seed Round).
I enjoy mentoring young entrepreneurs to become successful founders of category-defining startups; my co-founders at Airtm and Cadoo all started out as my interns in previous startups I founded.
Thesis 🚀
Founder Energy (the vision, ambition, optimism, and grit required to build a hypergrowth cashflow-generating tech startup) is the most valuable resource in the world, but much of it is untapped, wasted, or inefficiently converted into startups, most of which fail.
Too many founders are dissuaded from attempting to build a startup because of this high startup failure rate, estimated to be as high as 90%.
Founders that do attempt to build a startup end up failing because they squander much of their precious founder energy unsuccessfully seeking collaborators, building MVPs without feedback from community, wasting money on low ROI paid advertising, and chasing institutional VCs whose requirements few early-stage startups can meet.
Having built, invested in, and mentored founders of several successful startups over the past ten years, I have identified a huge opportunity to convert Founder Energy into hypergrowth startups by improving upon existing models of founder, startup, community, and capital formation.
Y-combinator’s success in surfacing, resourcing, and supporting suitable founders is a big inspiration for what Slyk will become.
The Slykcess Fund will be the first outside capital raised by startups launched and grown using Slyk’s startup success SAAS.
My thesis is that founders who cultivate engaged and aligned play-to-learn/earn/own communities are more likely to attract collaborators, early adopters, and growth experts interested in supporting the success of the startup. Such startups are more likely to pre-sell access to their services and build MVPs that are useful based on community feedback.
By raising their first round of capital from their community with Slyk, these founders will conserve their precious Founder Energy for the engagement, retention, growth, and revenue that institutional VCs value highly in making their investment decisions.
Slykcess will become a beacon for follow-on institutional venture capital.
Startup Success is Slyk 😎
Slyk is a platform for founders to launch, grow, and raise money for their startups that bundles SAAS and fintech. By making it easy for founders to monetize their startup upside as a closed loop digital asset, Slyk is an improvement on existing paradigms for the conversion of Founder Energy to Hypergrowth Startups.
The Slykcess Fund will acquire upside in fast-growing, community-centered startups powered by Slyk.
Tim Parsa
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$15,000
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
ten years of the fund's life.
Carry
Twenty percent (20%)
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, 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 platform’s average quarterly fund size is $580k. 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 platform’s average quarterly fund size is $580k. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Timothy Parsa's personal subscription per quarter will be at least 10% of each quarterly fund's total committed capital with a quarterly cap of $30,000 in total. Timothy Parsa 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.
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 Slykcess 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.
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Please read the disclosures in full here.
Apply To Subscribe
Subscription Amount
$15,000+ 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 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account