Well, this is somewhat unexpected — actor Robert Downey Jr. just launched an AngelList rolling fund.
Unlike traditional venture funds, rolling funds raise new capital commitments on a quarterly basis and invest as they go, hence the “rolling.” Investors come on for a minimum one-year commitment and invest at a quarterly cadence. In Downey Jr.’s fund that commitment amounts to $5,000 per quarter for up to 2,000 qualified investors (and a smaller number of accredited ones), according to a person with knowledge of the firm’s plans.
You can learn more about the Footprint Coalition Ventures fund here. And if you like the sound of it, you can apply to invest — investments start at $5,000 a quarter.
Rolling Funds Disrupting VC
AngelList is making the process of launching a venture fund far, far easier than it’s ever been before. With rolling funds, they’ve taken it to a new level. I believe this innovative investment structure will continue to grow in popularity.
Personally, I am still mostly investing through syndicates. But I’m increasingly looking for attractive rolling funds to join. You can see a list of rolling funds here on AngelList Venture.