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Unwritten Ventures

Note from Jonathan Wasserstrum

Howdy, I’ve been building SquareFoot since 2011...before "PropTech" was a word. I’m Chairman now after leading the company since inception. I began my career in commercial real estate in 2007 doing international capital markets work at JLL. Boom times, right?! But I learned a ton and saw how folks operate during a recession.

Fast forward and PropTech is a word that is causing the world and the industry to accelerate quickly to adopt and adapt.

I often receive an early call when someone is thinking about doing an early stage PropTech deal and a lot of the deals I’ve done have started with someone saying to the founder "oh you’ve got to talk to Jonathan." On later stage deals, founders squeeze down VC pro-ratas to make room for us.

"Jonathan has been an incredible angel investor and brings a lot of what you want from a founder investing in your company: empathy, great advice in the trenches, genuine care for the company vs impressing LPs, fundraising intros to amazing people, and general support. I hope to have him invest in everything I ever build." - Ray Sturm, CEO AlphaFlow

I believe in diversification in general and in angel investing in particular. With this fund, we aim to invest in ~20 companies per quarter. These will be mostly early-stage companies, however, we will also consider some later stage investments.

We have a deep network of portfolio companies and LPs across which makes us a super valuable investor for any company to have on their journey with them.
A bunch of founders from the portfolio are also investors in the fund which tells us we’re doing something right :)

Here are some of the PropTech and PropTech adjacent deals we’ve done to date.

Alma - "Easy to find high-quality, affordable mental health care." (Insight Ventures, Tusk Ventures, First Round Capital)
AlphaFlow "Unlocking the world's opaque markets." - (YC, Point72, Social Capital, Resolute, Saluda Grade).
Atmos - "Managed marketplace for homebuilding." (YC and Khosla).
Branch - "Premium office furniture." (RRE, Nine Four, Alate).
Eden Health - "Eden has built the first national virtual and in-person care delivery system." (Insight, Greycroft, Flare, 645 Ventures).
David Energy - "A new kind of power company" (USV, Greycroft, Box Group)
Dongnae - "Making great housing more affordable and accessible to Korean renters." (NFX, Flybridge, Metaprop)
Esusu - "Helping people build credit through renting." (Softbank, Sinai Ventures, Next Play Ventures)
Landis -"Helps renters become homeowners." (Sequoia, Jay-Z)
Wander- "Network of smart homes in inspiring places empowering users with the freedom to live and work where they want" (QED, Redpoint Ventures, Fifthwall, Susa Ventures)
...and we are just getting started

So come join me as we help the builders impacting the built world.
Jonathan Wasserstrum

Investment Details

Subscription Start Date
July 1, 2023
Minimum Quarterly Subscription
Minimum Subscription Period
4 Quarters
Management Fee
Investors pay management fees of 2% per year for the first 10 years. Management fees are taken as a percentage of the total committed capital. The total management fee is paid out quarterly over the first four years of the fund's life.
Twenty percent (20%)
Admin Fee
0.15% of contributed capital
Starting Q1 2024, this Rolling Fund will transition onto updated Rolling Fund pricing terms. Under these new pricing terms, each new quarterly fund in the Rolling Fund Program will pay an annualized rate of $2.5k + 0.2% of contributed capital over 10 years.

Fees for each quarterly fund in the Rolling Fund Program will vary based on each quarterly fund’s capital contributions since the fee includes a flat fee component. The last quarterly fund in this Rolling Fund Program closed $175.1k in contributed capital. Learn more about how to estimate your commitment’s fees at our help center.
GP Commitment
Jonathan Wasserstrum's personal subscription per quarter will be at least $5,000 in total. Jonathan Wasserstrum will satisfy their GP commitment in part by waiving 100% of management fees otherwise owed to them by the fund.

Investor FAQ

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The performance of past deals or a lead investors' track record is not a guarantee of future returns. Venture capital fund investments are inherently risky and illiquid. Such investments involve a high degree of risk and are suitable only for sophisticated and accredited investors.
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Subscription Amount
$12,500+ Quarterly
Subscription Period
4 Quarters
Management Fee
2% per year over 10 years
Admin Fee
0.15% of contributed capital
Starting Q1 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.