such a good idea
more funds should offer no fee spv’s to their founders. the ROI on allowing both founders to take a meaningful number of small checks with no lift, and for the fund to in portfolio ceos for small checks easily is pretty staggering considering how easy the paperwork is
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Which funds already do this?
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Quiet capital does, few others
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Same motivation but I'm making them advisors to the new fund(s)
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I also think that offering more of these opportunities for founders to profit is generally a great strategy. That's what they do in sports leagues with salary caps, for example. Founders have fiduciary duties, though, and this will at some point trigger a conflict issue.
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if you meet funds who want to offer this, have them message me.. one of my portco's does this at a fraction of angel list cost for folks who do a high volume of SPVs
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ahem
@partyroundco fund managers are founders too, let’s do this -
wait this company is sick
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