# The Co-Investing Model

> How FirstDegree's co-investment structure works — 5% carry to LPs, 0% management fee on angel cheques, 20% carry to the fund.

URL: https://firstdegree.io/insights/co-investing-model

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February 27, 2026
Model.
Why It Works in AI-Native B2B
By FirstDegree
## Traditional Model
Lead investor dominates.
Others follow.
## Access-First Co-Investing Model
Instead:
### This reduces
### And increases
## Why This Model Fits AI-Native Startups
AI-native cycles are fast.
Founders benefit from:
Co-investing allows smaller, high-conviction platforms to punch above their weight.
## Final Thought
In AI-native B2B,
access compounds faster than ownership percentage.

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FirstDegree — access-first investor in AI-native B2B companies at pre-seed and seed. https://firstdegree.io