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Illustration: Aïda Amer/Axios

Early Facebook employee Dave Morin is back with a new venture capital fund called Offline Ventures, 15 months after leaving Slow Ventures.

Driving the news: Morin's new effort is called Offline Ventures, and is raising money via a "rolling fund" structure recently introduced by AngelList. Expect it to invest in both health and IT startups.

Rolling fund structure? This is kind of the digital evolution of evergreen funds, whereby limited partners commit via quarterly subscriptions (although some may still want to commit on an annual basis, and then just prorate the checks).

  • Offline's minimum quarterly commitment is $25k, with a source saying the first-year target is $50 million.
  • Morin has some history with AngelList, having used it to raise SPVs for Slow Ventures that invested in Blue Bottle Coffee, PostMates and Slack.
  • AngelList co-founder Naval Ravikant is said to have also used the "rolling fund" structure to raise a new fund of his own.

Team: Morin's partners include wife Brit (who is stepping back her time commitment at Brit+Co, after quietly buying out her investors last year), James Higa (longtime Apple employee who served as a top aide to Steve Jobs), and Nate Bosshard (co-founder of Tonal, ex-Khosla Ventures).

  • Morin, who founded photo-sharing app Path after leaving Facebook, declined to comment, citing unclear SEC marketing rules around "rolling" fundraises. But it's our understanding that he left Slow, in part, because of his growing interest in mental and other health care, which wasn't a major part of that firm's mandate.

Go deeper

A new startup program puts the focus on urban issues

Illustration: Rebecca Zisser/Axios

As 2020 began, Scrum Ventures was already considering a new startup program focusing on tech for cities and the urban environment. Then the spring brought the coronavirus pandemic and a wave of protests following the killing of George Floyd, sealing the deal.

Driving the news: Scrum Ventures, in partnership with former NBA all-star player and investor Baron Davis, is debuting SmartCityX, a program aimed at helping startups connect with potential advisers and business partners.

Updated 43 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries — Brazil begins distributing AstraZeneca vaccine.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

DOJ: Capitol rioter threatened to "assassinate" Alexandria Ocasio-Cortez

Supporters of former President Trump storm the U.S. Captiol on Jan. 6. Photo: Kent Nishimura / Los Angeles Times via Getty Images

A Texas man who has been charged with storming the U.S. Capitol in the deadly Jan. 6 siege posted death threats against Rep. Alexandria Ocasio-Cortez (D-N.Y.), the Department of Justice said.

The big picture: Garret Miller faces five charges in connection to the riot by supporters of former President Trump, including violent entry and disorderly conduct on Capitol grounds and making threats. According to court documents, Miller posted violent threats online the day of the siege, including tweeting “Assassinate AOC.”