Trucks Growth Fund
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Trucks Growth Fund

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Subscription Amount
$10,000+ Quarterly
Subscription Period
1 Quarter
Management Fee
2% per year over 10 years
Carry
20-30%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account

Note from Trucks Growth Management LLC

Known as the No.1 early-stage fund focused on transportation technology by Pitchbook and praised by Evercore as ‘the best at picking tomorrow’s transportation startups,’ Trucks funds the entrepreneurs building the future of transportation. The new Trucks Growth Fund invests in the later rounds of our portfolio companies from the Trucks Venture Capital core funds. Trucks evaluates over 1,000 new transportation startups per year, and makes 6-8 new investments from its core seed funds every 12 months. 
We are the most experienced and most invested transportation venture fund in the world. We know and love transportation and have the ability to connect with experts and leaders across the industry. At a partner level, we have unique capabilities for which we are quite proud. Jeff Schox (GP) is the top patent attorney for early-stage startups (his firm Schox Patent Group wrote the patents for some of the most iconic startups in the last decade, including Coinbase, Cruise, Dropbox, Duo, Instagram, Joby, Plaid, and Twilio). Kathryn Schox (GP) is a core part of our team that assesses founders, team dynamics and helps clarify messaging. She’s also a cultural anthropologist, has been at the forefront of developing team dynamics in startups and has championed greater diversity within the automotive ecosystem. Reilly Brennan (GP) is widely followed and the now famous FoT newsletter is read by CEOs and leaders at the major car companies, banks and governments. Puneeth Meruva (Senior Associate) is a key part of our team that helps us with technical assessment of new companies and new ideas and previously worked at Uber and BMW.
Trucks Growth Fund intends to invest in roughly 1-2 companies on a quarterly basis based on the best opportunities of our portfolio companies. While Truck Growth Fund will not be leading the round, we have been given preferential treatment to participate because of our strong relationship with the founders as their early (and often first) investor. 
See our full note, which includes more details on our deal flow, selection process, strategy and disclosures. 
The investments and returns data 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. Past performance is not indicative of future returns. The companies and venture partners featured in this note and accessible via external links were selected due to their notoriety in the startup and venture capital community. This list is provided for illustrative purposes only and is 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.
Jeff, Reilly, Kathryn, and Puneeth

Investment Details

Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$10,000
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%), with an increase to thirty percent (30%) after the fund realizes a 3.0x return
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 $200k in capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Trucks Growth Management LLC's personal subscription per quarter will be at least $40,000 in total. Trucks Growth Management LLC will satisfy their GP commitment in part by waiving a portion of management fees otherwise owed to them by the fund.
Special Disclosure
The thesis of the Trucks Growth Fund is to invest in the later rounds of the portfolio companies from Trucks Venture Capital, including Trucks Venture Fund 1 LP (“TVF1”), Trucks Venture Fund 2 LP (“TVF2”), and any subsequent fund. TVF1 is no longer in its initial investment period. TVF2, which is currently in its initial investment period, has the opportunity to invest up to $1.5M in individual companies before Trucks Growth Fund. In the case where a portfolio company from Trucks Venture Capital is also a client of Schox Patent Group, then the patent group’s investment arm (Schox Venture Capital also known as Schox.vc) has the ability to invest up to $250K before Trucks Growth Fund.

Past performance is not indicative of future returns. There is no guarantee that any current or future fund will achieve the same exposure to, or quality of, startups held by any existing fund. Any investment in venture funds, including AngelList funds, involves a high degree of risk and is suitable only for sophisticated and qualified accredited investors. This note and the information contained herein is provided for informational and discussion purposes only and is not intended to be a recommendation for any investment or other advice of any kind and shall not constitute or imply any offer to purchase, sell or hold any security or to enter into or engage in any type of transaction. Any such offers will only be made pursuant to formal offering materials containing full details regarding applicable risks, minimum investments, fees, and expenses.

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 Trucks Growth 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
1 Quarter
Management Fee
2% per year over 10 years
Carry
20-30%
Admin Fee (annualized)
$2.5k + 0.2% of contributed capital
Invest Account
Select invest account