We're launching USVC Select today.

This program allows you to directly invest in top startups with zero carry.

Many investments into today's hottest private companies charge high fees.

We're launching USVC Select so qualifying USVC investors can invest in companies directly with zero carry and a 5% total management fee.

Here's exactly how this works:

1 - You can use this link to apply to the USVC Select syndicate.

Syndicate approval is at our discretion, but requires a minimum $100K commitment to USVC (or other AngelList Asset Management vehicles).

2 - We'll share direct allocations for investment through SPVs to some of the most sought after private companies we get access to directly with this syndicate, charging zero carry.

These deals will typically be priced at the same price as the most recent funding round.

These deals are highly confidential and will only be shared with the syndicate and USVC.

USVC may or may not co-invest alongside the companies.

3 - You can then invest in specific companies on a per-deal basis.

This allows you to own a piece of the upside with zero carried interest on any potential profits.

Our first USVC Select deal will launch in the first week of July.

The $100,000 minimum for access to USVC Select is only valid until June 30.

After that date, the minimum entry point will move to $250,000.

1. How does the $100,000 minimum investment work?

To participate in USVC Select, you must be an accredited investor that has invested at least $100,000 in USVC (or another vehicle managed by AngelList Asset Management).

You can then apply to the syndicate, where your application will be reviewed and approved by AngelList Asset Management if it's a good fit.

The $100,000 minimum investment is valid until June 30.

After that, the minimum investment amount will increase to $250,000.

2. How do you source these investment opportunities?

We source these investment opportunities through two primary channels:

3. What criteria do you look for in USVC Select opportunities?

Our sweet spot is companies at the Series B or later that have had a recent round of fundraising from a strong institutional investor.

We aim to offer these opportunities at the exact same price as the most recent funding round with no additional carried interest.

4. What happens if interest in a specific Select opportunity exceeds the available allocation?

We give preference to investors based on the size of their USVC commitment.

Beyond that, we may occasionally have to scale back desired investment amounts pro rata among investors who have committed a similar amount.

If you have any questions at all, simply reply to this email.

Also, if you have specific companies that you would love to see as a part of USVC Select, let me know.

— Ankur

P.S. This Friday at 12pm ET / 9am PT, I'm sitting down with the Sid Yadav, co-founder and CEO of Circle.so (a USVC portfolio company), for a live fireside on building a category defining startup.

Quick backstory: Sid and I spent years working together at my first startup Teachable, which I built and sold in the creator economy.

He left to start Circle with my good friend Andrew Guttormsen, and it's now the platform behind hundreds of thousands of creators, brands, and communities.

Honestly, watching them build Circle has been one of the things I'm proudest of from that whole chapter. And backing them through USVC is a full-circle moment for me (no pun intended).

On Friday, we're going to get into the real story behind building Circle from nothing, what they just unveiled at their recent keynote that changes the game for digital businesses, and where they think community and software are headed over the next decade.

There will be a live Q&A too, so bring your questions!

It's free to attend. And if you register, you'll get the full recording (even if you can't make it live).

Would love to have you there 👇

Register here → https://luma.com/circle.so

Investors should carefully consider the investment objectives, risks, sales charges and expenses of USVC before investing. USVC's prospectus contains this and other information and may be obtained at http://usvc.com/prospectus or by calling +1 (844) 988-1720. Read the prospectus carefully before investing.

This communication is for informational purposes only, is not intended to be a recommendation for any investment or other advice of any kind and shall not constitute or imply any offer to purchase, sell or hold any security or to enter into or engage in any type of transaction. Any such offers will only be made pursuant to USVC’s prospectus, which should be carefully reviewed before investing.

Investing in the USVC Venture Capital Access Fund involves significant risk, including the possible loss of principal. Venture capital investments are speculative, illiquid, and subject to a high degree of risk. Past performance does not guarantee future results.

USVC Venture Capital Access Fund is distributed by North Capital Private Securities (NCPS), member FINRA/SIPC. NCPS is not affiliated with USVC’s adviser or its affiliates.

Investing in USVC’s shares involves substantial risk, including the potential loss of your entire investment. Shares are not listed on any exchange, are illiquid, and liquidity is limited to periodic repurchases at the discretion of the Board, which are not guaranteed. This investment is speculative and suitable only for long-term investors who can bear the risks of limited liquidity. Certain conflicts of interest involving USVC and its affiliates could impact USVC’s investment returns and limit the flexibility of its investment policies. Past performance does not guarantee future results. Fees, expenses, and conflicts of interest may reduce returns.

USVC’s shares have no history of public trading. You should not expect to be able to sell your shares other than through USVC’s repurchase policy, regardless of how USVC performs. USVC does not intend to list its shares on any securities exchange during the continuous offering, and it does not expect a secondary market in the shares to develop.

USVC invests in private funds which are subject to certain risks including those related to illiquidity, indirect fees, valuation, limited operating histories and limited information regarding underlying investments. As a result of the foregoing, an investment in USVC’s shares is not suitable for investors that require liquidity, other than liquidity provided through USVC’s repurchase policy. The amount of distributions that USVC may pay, if any, is uncertain.