Posts Published by Chris Harvey

Writing in Public

On September 2nd, 2020, I published “Accredited Laws of Inclusion“.  It was a newsletter article that answered three questions: Accredited investors—who are “knowledgeable employees“? Can you get jail time for lying about being an accredited investor? What are Diversity Riders in term sheets? As comments have poured in over the last few days, I realized a few things. First, we are stuck in our own…

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Summary of Rolling Venture Funds (AngelList)

A Rolling Venture Fund or “rolling fund” is a new type of investment vehicle offered by AngelList that allows emerging fund managers to advertise their offering on a quarterly subscription basis while netting carried interest over a multi-year period (e.g. two years). A rolling fund is structured as a set of series limited partnerships: at the end of each quarterly investment period, a new fund is created. This…

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Emerging Fund Managers Outperform Established VCs

A common disclaimer found in venture fund subscription documents is: “Past performance does not guarantee future results.” Q: But is that really true?—Aren’t established, top tier VCs almost guaranteed to provide top-tier returns? There are two types of VCs at issue here: Emerging fund managers: VCs on Fund I, II, III <$150 million. Venture capital has generated compelling returns relative to public markets, but only for…

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