● Fund III is open · 14 days remaining

DOWN
THE HOLE
WE GO.

Your money usually disappears into a hole. We made that hole pay +34.8% annualized. Venture capital, finally open to everyone with $50 and a sense of curiosity.

Follow the rabbit →How it works
↓ YOU PUT IN
$50
$
$
$
$
↑ POPS BACK OUT
+34.8%
annualized · net IRR
$
$
$
$
FIG. 01 — CAPITAL, DESCENDING & ASCENDING
AUM (LIVE)
$184,320,412
NET IRR
0.0%
PORTFOLIO COS.
0
MIN. TICKET
$50
01 / HOW IT WORKS

$50 in.
Returns out.

Skip 30 years of LP minimums, fund-of-fund fees, and "have you considered an annuity?" calls. We're a pooled vehicle: one ticket, one fund, one hole.

01
$50 min
YOU CONTRIBUTE

Drop in.

$50 minimum. Pick a tier — Burrow ($50), Warren ($500), Den ($5,000). Funds invested across 30-50 startups, never just one bet.

$
02
1% acceptance
WE DEPLOY

We dig.

We see 3,000+ pitches/year. ~1% make committee. The survivors get our check, our network, and our weekly Tuesday calls.

03
~7 yr horizon
YOU DISTRIBUTE

Pop out.

When portfolio companies exit (M&A, IPO, secondaries), capital flows back. Roll into the next fund, or hop on out.

$$
"Curiouser and curiouser!"
— ALICE'S ADVENTURES IN WONDERLAND · CH. II · OUR HOLD-FOREVER STRATEGY, BASICALLY
02 / PERFORMANCE

We beat the
S&P. By a lot.

5-YEAR ANNUALIZED · IRR
Rabbithole Fund III+34.8%
Average top-quartile VC+23.1%
NASDAQ Composite+14.2%
S&P 500+9.1%
Money under mattress+0.0%
NAV PER UNIT · 2021–2026
$1.348 ↑34.8%
'21'22'23'24'25'26
PORTFOLIO COS.
0
across 11 sectors
EXITS
0
$1.2B realized
UNICORNS
0
companies > $1B
CARROTS EATEN
2.4M
distributed to LPs

* Past performance not indicative of future returns. The hole is dark. Read the prospectus before you hop.

03 / PORTFOLIO

Companies in
the burrow.

Petalwise
CLIMATE
MULTIPLE4.2x
🔥 HOT
Mossback
BIO
MULTIPLE11.7x
Quiver
FINTECH
MULTIPLE2.1x
🔥 HOT
Acorn
AI
MULTIPLE8.4x
Burrow Foods
CPG
MULTIPLE1.8x
Thicket
INFRA
MULTIPLE5.3x
Fernlight
ENERGY
MULTIPLE3.6x
Den & Co
MARKETPLACE
MULTIPLE6.9x
🔥 HOT
Tunnelvision
AI
MULTIPLE14.1x
Hopscotch
CONSUMER
MULTIPLE2.9x
Warren AI
INFRA
MULTIPLE7.2x
Sprout
BIO
MULTIPLE4.8x
See all 127 companies →
04 / WHY WE EXIST

VC was a
velvet
rope club.

For 60 years the best returns on earth lived behind a $250,000 minimum. "Sophisticated investors only," said the prospectus. The rope was nylon. The sophistication, mostly a haircut.

Meanwhile your retirement account went down a hole. Into index funds and savings accounts and the occasional Ponzi. We think holes are fine. Holes are how rabbits live. The problem is who gets to go down them.

— SIGNED, EVERY GP AT RABBITHOLE · JAN 2021
Read full manifesto →
05 / FROM THE WARREN

What our
holders say.

"

I put $500 in two years ago. Now it's $1,247. Best decision I made between TikTok scrolls.

Maya R.
TEACHER · AUSTIN, TX
"

Used to throw money at meme stocks. This is the same dopamine with actual diligence behind it.

Marco D.
DESIGNER · BROOKLYN, NY
"

My grandkids will inherit Rabbithole units. They'll probably name a child after the founder.

Elaine T.
RETIRED · PORTLAND, OR
06 / FOLLOW THE RABBIT

Follow the
rabbit.

Monthly dispatch: deal memos, founder interviews, the occasional carrot recipe. 6,247 readers. No spam.