How can I discount carry?

You can set your carry for each deal, and you can adjust your carry for individual LPs.

If you want certain LPs to pay less carry than the SPV's default, please email your account manager or lead@angel.co after the LP has completed the closing flow. The SPV's default should be the maximum carry any LP inside the SPV is paying. From there, you can adjust certain LP's carry level down. It is often easiest if you send us the full list of carry changes at the end of the raise.

Process:

  1. LP completes closing flow
  2. The closing flow shows default carry (e.g. 20%)
  3. You email us letting us know that a particular LP should be adjusted to 10% carry
  4. We adjust our records
  5. Upon finalizing the SPV, we send you a spreadsheet with all LPs and their carries
  6. You confirm or let us know of any final edits
  7. We finalize the SPV, lock-in all carries, and notify LPs
  8. LPs will be able to download the final SPV docs, along with a carry adjustment side letter for those LPs who pay less than the default
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