We’ve closed Tango.vc Fund I at $4.7m. Tango is focused on machine learning, automation, and robotics. If you’re a founder working in the space, get in touch: firstname.lastname@example.org
It’s been a journey to get here. I started investing full time 2 years ago, and I wasn’t sure if I was going to run a syndicate, stay an angel, or raise a fund. As I learned more, it became clear that there are way too many opportunities for a new fund to do things differently.
Fund I is all about proving the basics: raise money, find great companies, win the deals, and support the founders. My angel investing before the fund formed is now rolled in, so we’ve actually already backed over 25 companies, with portfolio value at 1.7X. This is wonderful performance, especially considering how much hard tech we’re backing.
Today we’re also announcing the Tango Community. If you’re reading this, you’re already a part and you should subscribe. We also welcome you to our Tango Community Slack here.
We have some big plans for the community. Founders and LPs are already using the channel to connect and share deals.
Tango Fund LPs get discounted carry, and carry is paid back to Fund I. This carry flow is unique to Tango, and our modeling shows this carry could add a 1X multiple on Fund I. This is a good example of optimizing for the long term because the performance of Fund I and II will impact Fund III fundraising. I’d rather boost Fund III later than pocket the carry personally sooner.
There is a lot more we want to do differently, from how fund carry flows in a partnership to how management fees should be spent on software and services. Subscribe to learn more in future posts.