In a Rolling Fund, LPs subscribe to our deal flow with a quarterly capital commitment. Similar to a traditional fund, a Rolling Fund:

· Is a blind pool with the ability to make quick and precise commitments to invest in fast-moving deals.

· Has a fund-wide (crossed) carry over an LPs total quarterly subscription period (not per-deal like Syndicates). 

 

Unlike a traditional fund:

· LPs can change capital commitments every quarter. 

· Tradeworks.vc can raise money incrementally, one investor at a time, rather than having to focus 100% on fundraising, then 100% on investing.

 

The net benefit is that:

· LPs can raise or lower capital commitments depending on financial position and desired risk exposure.

· Fundraising and investing simultaneously is a much more efficient use of our time and ensures that we don’t miss out on deals due to poor timing.

 

All initial on-thesis deals will be made via the Rolling Fund, committed capital permitting. In cases where the investment allocation in a specific deal exceeds the Quarterly Rolling Fund’s investment appetite, Tradeworks.vc investors (who may or may not be Rolling Fund LPs) may be given the opportunity to invest in specific deals through the Tradeworks.vc Syndicate. Rolling Fund LPs will be notified of such cases in advance, and will be able to e.g. increase their commitment to the Quarterly Rolling Fund (so as to increase the investment appetite), or invest through the Tradeworks.vc Syndicate.