Over decades of investing my best returns (and most fun) has always been investing with other smart people through no/low fee or carry only investment vehicles. At Incisive Ventures, we are dedicated to increasing access to early-stage venture investing through low-cost investment vehicles that improve LP returns in the asset class vs the traditional Venture model. Today, there are two ways to invest alongside our personal capital at Incisive Ventures. I look forward to investing with you.
Incisive Ventures Access Fund. Our primary investment vehicle that invests in all on-thesis opportunities with a special focus on off-market, fast-moving, small allocations, and highly confidential companies. This is a low-fee fund that invests in Angel and Venture-led deals with a target to improve LP returns by 10-25% versus a traditional 2/20 fund. Often takes entire allocations, sometimes shares larger allocations with IV Syndicate. GP Martin Tobias is the largest LP. We raise and deploy this fund every 18 months, join anytime or subscribe over time, and receive full pro rata of all fund investments, including markups. Check sizes from $100-$250K, minimum LP commitment $25K.
Incisive Ventures Syndicate. All high conviction on thesis opportunities where we lead the diligence (no co-syndications) and have a larger allocation. Join over 1,700 LPs from around the world in this carry-only (no management fees) vehicle. Make your decision on a deal-by-deal basis from our detailed investment memos. This is a no-fee carry-only fund that invests in Angel and Venture-led deals with a target to improve LP returns by 25-42% versus a traditional 2/20 fund. Check sizes $100-$500K, minimum LP commit per deal $1,000. For larger syndicate capital commitments, we have a Preferred LP program which improves returns 10-21% vs standard Syndicate returns.
Incisive Ventures Opportunity Fund (Currently CLOSED to outside capital). Follow-on growth capital for GP fund managers in Venture led follow on rounds with support for a shared carry model (early GPs participate in economics of follow-on financing). This is a very low fee fund that invests in growth-stage Venture-led deals with a target to enable early GPs, provide LP access to the growth stage and improve LP returns by 5-12.5% versus a traditional 2/20 fund.