Open Scouting Program
Scout Program
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Open Scouting Program
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Scout Program
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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🌍 Meet other scouts globally.
👀 Get first dibs on new scout programs and VC openings.
✨ Get feedback and investor recommendations for your deal memos.
✌️ Learn and grow together as a community!
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.
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.
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
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.
What do I earn if my referral is funded?
You choose either $5 000 in cash or 10 % of The Syndicate’s carry on that SPV.
Do I need to know the founder personally?
No. The site explicitly states you “don’t need to have met with them.”
How do I submit a startup?
Fill out the webform on the Open Scouting page with a short description and contact info.
What makes a referral ineligible?
If the company is already in Launch’s database or in contact with the team, your tip is not eligible for rewards.
Is there a limit on submissions?
The program does not state any cap; you can share as many startups as you like.
Do I have to invest personal money?
No. Participation is free and carries no obligation to co‑invest.
How quickly will I hear back?
Launch aims to review submissions within 72 hours, the same SLA it offers founders.
Can a startup apply directly as well?
Yes—founders can submit via the main funding form; your referral is still credited if you were first.
Is the program global?
Yes, referrals are accepted worldwide and investments are SPV‑based.
Does the 10 % carry dilute other scouts?
No. The reward is specific to the deal you sourced and does not affect others’ economics.
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