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Analyzing Anti Fund, a Rolling VC Fund Created by Jake Paul and Geoffrey Woo, After One Year of Existence
My long-term plan with Finance by CWT is to start investing its money into startups. I want this company to help build small businesses into large companies. One of the ways I have considered doing this is through the creation of a fund that would be managed by Finance by CWT.
Because of my own goals, it interested me when I saw that YouTuber Jake Paul along with serial entrepreneur Geoffrey Woo were creating a rolling fund through AngelList to invest into startups. For those who don't know what a rolling fund is, a rolling fund is a fund that remains open to investors (limited partners) each quarter. They're called rolling because they remain open. People invest money into the fund, and the fund managers invest that money. The fund managers get paid a management fee (normally 2% of the investment), and they collect a fee on profits (normally 20%).
Now that Anti Fund has officially existed for a year, I want to look at how it did. First of all, the fund has grown to 23 million dollars in assets under management across their funds and vehicles. I think that that's pretty impressive. I was surprised to see that they grew that big. Anti Fund has already returned 50% of day 1 investor's investment which is pretty impressive, as well, for a startup investment fund. Anti Fund has also 20xed on paper markups which is impressive, but it is important to note that that is not liquid money. It's just paper value that would be very difficult to realize.
One thing that would make me nervous if I had my money in Anti Fund, however, is that looking at their investments, they have a lot of money tied into web 3, NFTs, and Blockchain companies. I believe in web 3 and have investments in that space as well, but I do not believe in a lot of web 3 companies. I believe that most are going to 0 and only a few will succeed and be super successful. I do not believe in NFTs. I definitely believe in blockchain companies, but I believe most of them will go to 0 as well.
Some of Anti Fund's investments I do believe in but a lot of their investments seem really risky. Investing in Startups itself is very risky as 90% of startups fail, but I believe that a lot of Anti Fund's investments are especially risky.
It'll be very interesting to see how the fund does over the next year.
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