I might be missing what is novel here other than a cool name and interface. We (AgFunder.com — a Fund focused on foodtech & agtech) launch a new fund every 6-12

I might be missing what is novel here other than a cool name and interface. We (AgFunder.com — a Fund focused on foodtech & agtech) launch a new fund every 6-12 months with a 6 week offering period, precisely because we can effectively take capital at any time. Investors range from individual, family offices, and corporates. We went from $0 to $30m AUM in two years over five funds. For a given investment, we generally invest out of multiple funds (typically 2-3) that have capital to deploy and have a simple formula based on target check size to deal with tight allocations. We’ve written checks as low as $100k and as high as $1m. For our fund admin, we use Assure Fund Services which costs about $15k to set up each vehicle with 10-years of k-1 and admin services. They also manage the bank account. Assure used to run angellist’s SPVs. With so many funds and LPs (>250) we built a reporting tool that builds a quarterly report for each LP based on the funds they’re invested in and what companies those funds are in. This has removed a lot of cyclicality you see in funds where you are either fundraising or investing. We have mostly inbound, do very few in person meetings, and if you prefer to wait you can see our progress and come in in the next Fund in six months. The relationships with the LPs are great and many are far more sophisticated than institutional LPs because they often know the space better. Still, I don’t see institutional LPs stepping into this for a long while. They’re very very conservative and like things done like they’ve always been done (no wonder VC has such poor performance as an asset class).