It’s important to note that this site and the Tweener Fund deal with the topic of investing in startups. Startup investing is one of the highest risk forms of investing and potential investors should assume there is very high risk of loss of some or all of your investment principle.
The Triangle Tweener Fund (Tweener Fund) is a Rolling Fund (powered by AngelList) affiliated with the Triangle Tweener List . The Tweener Fund seeks to create an index of early stage, private company investments. This welcome page provides a high-level overview of the fund’s structure, investment strategy and advantages. The menu items at the top of the site provide deeper dives into these topics and is the central repository for all public-facing information about the fund. Communication with investors (LPs) will be confidential and through the AngelList platform.
Also, the pitch deck is here.
When you’re ready to invest, instead of a paper-based system, the fund uses an on-line platform and you can read more, see all fund documents and start the process here.
- Rolling fund with quarterly subscriptions marketed publicy.
- Open to accredited investors. This is a rule established by the SEC and not the fund and you can learn more here. The fund sign-up workflow will help you walk through the process of understanding if you are accredited.
- Primarily invests in companies on the “Tweener List” at the direction of General Partner Scot Wingo
- $5,000 quarterly commitment (initial investment is minimum 4 quarters = $20,000)
- Below-market fees: no management fee, 20% carried interest (re-invested into fund). AngelList has a .15% management fee.
- Administered and managed through the self-service, cloud-based AngelList Rolling Fund Platform.
- The Fund will invest in 10-20 early-stage technology Triangle-based companies per quarter
- Typical investment will be one of three formats:
- Syndicate participation in a venture-led deal (priced, preferences, pre-seed/seed/A rounds)
- SAFE – A SAFE was created by Y-Combinator and opensourced to provide a better alternative to convertible notes. It stands for a Simple Agreement for Future Equity and is a useful investment option when a company is early-stage and it’s valuation is hard to know, but the early investor should be rewarded for their risk. Details on this option can be found in the reference area of this site.
- Convertible note – Some founders and VC funds prefer a convertible note that is similar to a SAFE, but has a debt component as well.
- Our strategy can best be described as an index approach – more small investments in early-stage companies versus trying to predict winners. Traditional VCs call this approach ‘Spray and Pray’, but data on thousands of early-stage investments collated by AngelList suggests the approach is superior. This strategy is covered in detail in the ‘Fund Detail’ Section of this site.
Tweener Fund Advantages
- Region: The Triangle startup ecosystem is one of the most diverse and dynamic markets, but with little to no competition from other early-stage investors.
- Tweener List: The Tweener List has created an unparalleled and proprietary data set of 6yrs worth of data on the ecosystem. Tweener List-driven activities have helped create pollination between previous founders, executives, external investors as well as early-stage companies. The Tweener List has become a ‘hub’ of startup activity in our ecosystem and an associated fund is a natural extension of the ‘hub’.
- Investors (LPS): The Tweener Fund seeks to have the top founders, executives, vendors and all of the stakeholders in the ecosystem involved not only as investors, but supporters. Explicitly, our ask for our LPs is that if a portfolio company needs help with recruiting, fund-raising, scaling and execution. We believe this will accelerate the startup flywheel in the Triangle. You can find our Fund Founders here and more details about the startup flywheel in the Fund Details section.
- General Partner (Scot Wingo): Investment decisions are being made by Scot Wingo, 4-time successful entrepreneur and creator of the Tweener LIst. You can learn more about me in the ‘about’ section.
Where should you go from here?
- Tweener List: If you haven’t seen the Tweener list, that’s a great place to start to make sure you understand the underlying set of companies that inspired the Tweener Fund – it lives here.
- Invest: If you are looking to apply to the Tweener fund, you can visit our AngelList landing page here.
- About: To learn more about Scot Wingo, the General Partner, check the ‘About page‘.
- Portfolio: To track our portfolio, look at the ‘Portfolio page‘
- Fund Details: For a deeper understanding of the fund’s strategy and focus, go to the ‘Fund Details‘ page
- Investor List: To see a list of investors (Limited Partners or LPs) that have agreed to be publicly listed, they are detailed in the ‘Founding Funders‘ page.
- Curated startup resources: If you would like to see a highly curated list of resources (books, articles, blogs, podcasts, movies, tv-shows, etc.) around startups, startup investing for both entrepreneurs and investors, go to the Resources page.
- Media hits: To track the Tweener Fund’s mentions in the media and press releases, got to the Media page.
- Contact: Still have a question? Want Tweener Fund to consider investing in your startup? Tell us via the Contact page.
- What’s new?/Blog: Want to know the latest updates on the fund? Subscribe to our blog here.