Invest in Weekend Fund

UPDATE: We appreciate all of the positive feedback. The deadline to apply has passed and we're reviewing applications now.

Hello! I'm Ryan Hoover. 👋🏼

Vedika Jain and I run Weekend Fund and we'd like to invite you to invest in our third fund.

We've finished raising the majority of Weekend Fund 3 and reserved up to $1M for operators and founders outside of our network to participate. Our goal is to increase LP representation across different backgrounds, geographies, communities, and professions. This is our Community Raise.

If you're interested in investing as an LP, apply here.

But first, more about the fund...

What we invest in

We invest in early-stage companies capitalizing on consumer behavior or technology shifts. The fund started in 2017. Our portfolio includes:
How it's going

We're proud of what Weekend Fund portfolio founders have accomplished.

While early and mostly unrealized, as of April 2021 fund 1 has a 36.6% IRR and fund 2 has a 117.9% IRR.

To put this in context, this puts Weekend Fund's performance in the 100th percentile when compared to hundreds of other funds using AngelList's performance calculator.
About the team

We're a fast-moving, two-person team.

I, Ryan, started my career in the gaming industry as a product manager, helped write Hooked: How to Build Habit-Forming Products and founded Product Hunt, the place where founders from around the world launch their new products.

Vedika joined Weekend Fund in 2019 as Chief of Staff. She also comes from a product management background with prior experience at TrueLayer, Stripe, Mithril Capital, Kalaari Capital, and Kairos Society.

I'm in Los Angeles. Vedika is in London. We invest globally.

From the founders

Here's what some of our portfolio founders say:
"Ryan and Vedika are awesome. Their backgrounds, network and deep appreciation of founders is what makes them one of the best. Their small but mighty team moves more mountains than most of the big VCs. I'd work with them again in a heartbeat."

— Alex Bouaziz, Deel
"I first cold emailed Ryan to review our Y Combinator application. Feedback came in same day, plus a recommendation to YC. Investors aside, he’s helped close enterprise accounts plus top technology hires. I’m certain Weekend Fund will make an ongoing impact on the path to building a $1B business."

— Willson Cross, Pattern
"Weekend Fund is one of the best investors we have. Not only have they been key partners for us as we found product-market fit, but continue to lean in with critical introductions to other investors as we scaled into our Seed and Series A. I have never met anyone that has the ability to make as many highly qualified introductions as Ryan!"

— Sarah Wendell Sherrill, Lobus
Our LPs

Weekend Fund is backed by Naval Ravikant, Troy Carter, Marc Andreessen, Chris Dixon, Suzy Ryoo, Miyuki Matsumoto, Kevin Rose, Chris & Crystal Sacca, Hana Yang, Michael Seibel, and many other good humans.

This Community Raise is an opportunity for us to bring along even more operators and founders that are excited to support the fund and its portfolio founders.

What we're looking for

We're looking for people that are eager to:

1. Help portfolio founders. We may introduce you to founders for brief office hours to workshop challenges relevant to your background or ask to make strategic request introductions.

2. Share deal flow. We're particularly interested in expanding our network and meeting founders you truly believe in.

3. Lend expertise. We value people with deep experience and knowledge in specific industries or domains. Your support with our diligence process is very useful.

If this gets you excited, please apply. :)
Apply to be an LP
You might have more questions. Here are some FAQs...

How are you able to raise publicly?
WF 3 is structured as a 506(c). This requires LPs to provide proof of accreditation but enables us to talk about our raise publicly while complying with SEC regulation.

Why are you raising publicly?
The venture capital industry is opaque. To invest in a fund as an LP, you typically have to "know a guy". We want to make Weekend Fund more accessible to people that may be less networked and outside our immediate community, even if this is their first fund investment.

How large will the fund be?
WF 3 will be $20M although this may fluctuate slightly based on demand.

Past performance is always indicative of future performance, right!?
No! It's important that all LPs understand the risks of venture investing. You can lose your money.

What check sizes are you accepting from LPs?
We are accepting investments between $2K-10K. We set a low minimum so that we can partner with several amazing operators and founders. We are also capping the check size to ensure our fund remains small as we bring on several new LPs.

Do I have to be accredited?
Yes. This is an SEC requirement. More details about accreditation here.

What is the carry and management fee structure?
The fund is a standard 2 and 20 model. We accept 20% carry and 2% management fees over the life of the fund (10 years). Fees are front-loaded at 3% in each of the first three years, 2% in each of the following 4 years, and 1% in the last three years.

How are you selecting LPs?
We have a limited number of LP spots. We're looking for people that come from different communities or professions than our own to compliment the support we provide to founders. It's important to us to onboard LPs that are genuinely motivated to get involved and support the portfolio.

When are you finalizing the Community Raise?
We are accepting applications through May 14th. Wires must be submitted before Jun 15th.
Shout out to portfolio company, Makeship, for this adorable illustration of Vedika and me. 🤗
The fun fine print:

Investing in venture capital funds is inherently risky and illiquid. It involves a high degree of risk and is suitable only for sophisticated and qualified investors. Past performance is not indicative of future returns. Information on this page is qualified in its entirety by the Limited Partnership Agreement, Private Placement Memorandum, and Subscription Agreement, which should be reviewed carefully prior to making an investment decision. Before making an investment, review these documents for full details regarding risks, minimum investment, fees and expenses which will be provided to those invited to invest. The fund uses AngelList Venture (“AngelList”) to provide many of its back office services.

Returns are partially unrealized. Valuations are calculated as of April 26, 2021 and have not been audited. Underlying IRR calculation uses the actual dates when investments were made and may include uninvested cash. It measures the asset-level returns of each of the funds' investments, calculated net of fees and carried interest charged by the AngelList platform or the fund manager. The timing and magnitude of fund cash flows are integral to IRR performance calculations, and a small number of investments have a material impact on IRRs. IRR calculations are also significantly impacted by valuations and discount rate assumptions, which are inherently discretionary.

For purposes of calculating unrealized returns, companies are valued with industry-standard methods. For more information on AngelList’s valuation methodology, please see here.

Limited Partners included above are chosen on the basis of their notability and total amount invested in the fund (and predecessor funds, as the case may be). Their inclusion above does not represent an endorsement of AngelList's advice, analysis or other service rendered to its clients.