There are certain regulatory, compliance, and operational limitations that define what type of investment we can support. When you submit a new RUV, our team reviews these parameters to ensure fit.

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What is a Roll Up Vehicle?

Roll Up Vehicles are special purpose vehicles that make an investment into a company. RUVs provide a way for founders to efficiently allow investors into a financing round without incurring expensive legal fees or making the company’s cap table more complicated.

Instead of directly investing in the company, you would subscribe to a special purpose vehicle which will then invest into the company on the terms listed on the RUV investment page. link

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Why do founders use RUVs?

Founders prefer to use RUVs to aggregate multiple checks into a single entity. Normally to close investors, companies have to incur additional costs from lawyers and cap table vendors for every additional shareholder. The RUV allows founders to expand access, control closing costs, and ensure that the cap table is as simple as possible.

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How is this different from investing directly?

RUVs make the process of investing into companies easier to manage for everyone. Instead of directly being on the company cap table, investors become limited partners of a special purpose vehicle which itself will be on the company’s cap table. This relieves investors of the requirement to interface with the company’s legal team for shareholder consents, conversions, and ongoing questions. Instead you get a single dashboard on AngelList that provides the details of your investment.

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Are RUVs private?

Yes. Only people you invite with invite links will be able to see the RUV and invest. The deal is not published anywhere nor is it publicly accessible. Investors in the RUV will not be able to see who else invested or how much was raised.

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How should I explain this to investors?

RUV FAQ for Investors

Hope you’re all well!

We’re excited to have you join us as angels in our upcoming fundraise. As you might already be aware, one of the drawbacks of raising $ from multiple angels is the management side of things related to investor relations. RUVs make the process of investing in companies easier to manage for everyone. Instead of directly being on the company cap table, you become a limited partner of a special purpose vehicle which itself will be on the company’s cap table. This relieves you of the requirement to interface with the company’s legal team for shareholder consents, conversions, and ongoing questions. Instead, you get a single dashboard on AngelList that provides the details of your investment.

By creating an RUV, we’re able to roll all our angel investments into one line on the Cap Table making it much easier to manage our investors moving forward. Here is a FAQ that might answer any questions you might have regarding RUVs if this is the first time you’re seeing it.

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Can I enforce minimum or maximum investment amounts on a per investor basis?

Yes, you can create custom invite links in your dashboard that will establish a minimum (and a maximum) for the link.

We will do a final pass with you before wiring funds to make sure the allocations for each investor works for you.

What we’ve seen work before is to email investors with a note saying something like “Your allocation is $75k. You can close using this link: https://angel.co/i/abcd”

Do not worry if it looks like you see the same minimum no matter how many links you create. The system is keeping track of the minimum and maximum investment amount you are eligible for. You can be sure that investors who receive the link will see the correct minimum and maximum they are eligible for.