Summary List PlacementOn September 1, Shaan Puri sent a tweet announcing an ambitious new goal for himself. He wanted to raise at least $1 million in three weeks to launch his rolling fund, the new type of venture fund created by AngelList that allows investors to subscribe to a fund by paying in quarterly installments. To his surprise, within an hour he secured $70,000 in commitments. Five days later, he had raised $1.5 million and temporarily closed the fund because too much money was coming in, he told Business Insider.