How Startups Use Rolling Funds to Keep Investor Capital Flowing

In this episode of The Series A Show, Lucas and Luna dive into the mechanics of rolling funds — the vehicle that allows startups to raise capital continuously rather than in discrete rounds. They discuss why firms like AngelList and Carta have popularized this structure, how it changes the relationship between founders and limited partners, and what the data says about fund performance. Lucas shares a specific case: a SaaS startup that used a rolling fund to raise $12 million over 18 months without a traditional demo day. Luna pushes back on the downsides — investor fatigue, fee stacking, and the risk of becoming a 'zombie fund.' They also touch on recent headlines about Snap alumni launching a similar vehicle. Plus, the hosts explain why this episode stays ad-free and how listeners can support the show. #RollingFunds #VentureCapital #StartupFunding #AngelList #Carta #ContinuousCapital #VCStructure #FundraisingStrategy #SeriesA #Business #Technology #FexingoBusiness #BusinessPodcast #SnapAlums #GhostAngels #SaaS #LimitedPartners #ZombieFunds Keep every episode free: buymeacoffee.com/fexingo