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Open Scouting

Scout

Program

Venture Capital

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Open Scouting
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Overview

Open Scouting is the referral pathway that feeds Jason Calacanis’ 10 000‑member angel network, The Syndicate, with a steady stream of new startups.

Anybody—founder, operator, student or hobbyist—can submit a company through a short Typeform embedded on The Syndicate’s website.

The scheme is deliberately lightweight: scouts are not official representatives of Launch, The Syndicate or Calacanis, yet they retain meaningful upside if their tip leads to an investment.

The upside is offered in two flavours. First, a finder can elect to receive $5 000 in cash once the deal closes. Alternatively, they can take 10 percent of the GP’s carry on that individual special‑purpose vehicle, mirroring the economics paid to Calacanis’ formal venture scouts.

The model relies on speed and breadth rather than a formal curriculum. Step 1 is to “Find a great startup—you don’t even have to have met with them”. Step 2 is to complete a brief webform outlining what the company does and why it’s a fit. Step 3 is carried interest: the submitter earns if (and only if) they are the first to flag the company, it is not already in the database, The Syndicate was not already in contact, and the deal ultimately receives funding.

TechCrunch’s scout‑program roundup notes that Open Scouting is one of the few global programs paying either cash or carry, making it attractive to new angels who value immediate liquidity as well as long‑term upside.

Because there is no cohort cadence, submissions are reviewed continuously by the Launch investment team. The same back‑office that processes more than 300 investments each decade for Calacanis’ vehicles screens the leads, connecting promising founders with partners and, if a cheque is written, syndicating the SPV to the club’s 10 000+ accredited investors.

This structure gives scouts a frictionless path to participate in headline‑worthy cap tables: previous Syndicate investments include Uber, Calm and Robinhood.

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Investment Focus

Admissions

There is no screening before you submit a deal. Anyone can complete the online form, but only the first, unique referrer is eligible for the reward. The Launch investment team vets each submission against its CRM within roughly 72 hours—the same turnaround it offers founders who apply for funding—before deciding whether to advance to a partner call.

Price

Open Scouting is completely free. There are no membership dues, training fees or minimum deal quotas.

Scouts incur zero cost unless they decide to co‑invest personally, which is optional and negotiated directly with the SPV lead. All legal paperwork, K‑1 compliance and banking fees are handled by Launch

Application Advice

Compensation

If The Syndicate invests, the scout chooses one of two options: (1) a one‑time $5 000 cash payment wired from the SPV’s admin budget, or (2) 10 percent of the general partner’s carry on that deal, payable on liquidity events. ]The carry option mirrors industry norms for formal scout networks, while the cash option offers immediate upside for participants who prefer near‑term liquidity.

The carry option mirrors industry norms for formal scout networks, while the cash option offers immediate upside for participants who prefer near‑term liquidity.

Overview

Timeline

Media

TechCrunch lists Open Scouting among the “handful of funds that openly share cash‑or‑carry bounties,” highlighting its $5 000 / 10 % structure as unusually generous. Business Insider’s deep dive into Calacanis’ investing empire explains how the 10 000‑member Syndicate gives scouts leverage to place startups in front of a vast capital base.

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