- Admin, tax, & organization fees: 1.5% of contributed capital for maintenance of the quarterly fund’s 10-year lifetime
- $20k minimum paid at closing for each quarterly fund
- Variable state and provincial regulatory fees (capped at $4k for each quarterly fund)
- 5% carry on AngelList LPs (no carry on your own LPs)
The admin, tax & compliance fee is charged as a percentage of overall capital commitments to a quarterly fund, excluding any roll-over capital contributions from earlier quarters and subject to caps.
Much like management fees, the admin, tax & compliance fee is collected up-front and paid out when earned out of a designated account set up for the Fund.
State and provincial regulatory filings are required by securities regulators in the U.S. and Canada. In the US, state regulatory fees are known as blue sky filing costs. Fees vary depending on the geographic makeup of LPs in the Rolling Fund. If these fees exceed $4k for each quarterly fund, AngelList will cover the excess.