• An increasing number of wealthy tech execs, like Facebook alum Dave Morin and Gumroad CEO Sahil Lavingia, are starting so-called “rolling funds,” a new type of venture fund pioneered by AngelList that allows investors to “subscribe” on a quarterly basis.
  • Some are attracted to the user-friendliness of the model’s style and ability to publicly solicit investors, which might otherwise be illegal.
  • Others see it as way to increase accountability for venture capital partners, who often make money on management fees whether the startups they fund succeed or not. 
  • By having to please investors on a quarter-by-quarter basis so they continue to contribute, rolling funds puts more pressure on fund operators.
  • Still others see rolling funds as a way to bring more diversity into the notorious homogeneity of Silicon Valley.
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More and more wealthy tech execs in Silicon Valley are starting or participating in

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