On Angellist, How to Make a Budget for a Rolling Fund:
Managing a Rolling Fund isn’t all that different from operating a business. You provide a service (access to great deals) to customers (your investors) and charge money for it (with management fees and carried interest).
And just like running any other business, you need to budget in order to manage your money—and your LPs’ money—responsibly.
I’ve spent my career building financial models for startups. When I launched my Rolling Fund on AngelList, I created a budget to help forecast revenues and expenses for managing it. Here are some best practices I learned along the way.