"Rollups RUV makes it easy to engage a strategic and broad network of support as we build our company."
Highlights
- Stage: Series A | Market: Grid infrastructure | Description: Solid-state transformers for modern power systems
- Heron Power raised Raised $1M+ via RUV from 30+ angels, as part of $38M round
- Tesla energy veteran (18 years) using RUV for first time
- Impact: Consolidated strategic supporters into single cap table line without derailing fundraising momentum
Background
Heron Power is modernizing the electrical grid with smarter hardware. The company's $38M Series A was led by Capricorn Investment Group's Technology Impact Fund, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Powerhouse Ventures, and more.
Founder & CEO Drew Baglino spent two decades as an SVP at Tesla, where he designed everything from the dual-motor Model S to massive grid-scale battery deployments. He left Tesla in 2024 to tackle infrastructure that hasn't changed since his grandfather's era.
The Problem: Strategic Investors, Major Round, Impossible Timeline
In addition to the company’s Series A lead investors, Baglino also wanted to include many early supporters — former colleagues, technical experts, and mission-aligned angels.
"We had several investors who could add real strategic value," Drew said. "But when you are trying to close a major institutional round and hit engineering milestones simultaneously, processing that many individual checks becomes a constraint, an intractable challenge for a small founding team to manage."
The math was simple: 30+ separate legal processes, wire transfers, and admin overhead during a critical fundraising window.
For a team racing to hit their long term production timeline, it would have been impossible without a streamlined approach.
The Solution: One Vehicle, Zero Friction
Instead, Drew turned to Rollups Roll Up Vehicle to consolidate over $1M from 30+ strategic investors into one vehicle — adding only one line to the cap table. The RUV launched in less than an hour and wrapped up in less than a month. It aligned perfectly with the broader $38M round that included Tesla co-founder JB Straubel, former Tesla CFO Zach Kirkhorn, and top-tier climate funds.
Rollups and AngelList handled everything: vehicle formation, investor onboarding, KYC/AML, accreditation, and fund transfers. While Capricorn anchored the institutional side, the RUV gave Heron a way to include dozens of strategic supporters without slowing anything down.
"At Tesla, we learned that execution speed comes from eliminating complexity," Drew said. "The RUV did exactly that — it let us bring 30+ allies into the round through one clean system, and now we get the upside of their support without the usual operational drag."
Looking ahead, Drew sees this kind of leverage as foundational. "When you are building a large company, every bottleneck slows you down — and the right people in your corner at critical junctures can open doors, offer insight, and clear the path," he said. "The RUV helped us quickly bring in those people at exactly the right moment — and we’ll absolutely use it again."
Frequently Asked Questions
What is a Roll Up Vehicle (RUV)?
A Roll Up Vehicle is an investment structure that consolidates multiple angel investors into a single line item on your cap table. Instead of managing many individual investor relationships, startups deal with one entity while still accessing the strategic value of all investors.
How long does it take to set up an RUV?
According to Drew, the setup was incredibly fast — within minutes he had a shareable link to send investors. The entire process from setup to close was streamlined compared to traditional individual investor management.
What are the main benefits of using an RUV for fundraising?
RUVs eliminate administrative overhead, simplify cap table management, reduce legal complexity, and allow founders to focus on building relationships rather than paperwork. They're particularly valuable when you want to include many strategic investors who can provide expertise beyond capital.
Is an RUV appropriate for later-stage (Series A and beyond) rounds?
Absolutely. While many founders first learn about RUVs at the seed stage, Heron Power’s Series A shows the structure works just as well alongside large institutional checks. Lead VCs are usually supportive because the RUV keeps the cap table clean and doesn’t slow closing.
Can I start an RUV for free?
Yes, companies can setup and launch an RUV for free. Payment is made later, when the RUV closes. There is no payment obligation to get started, and there is no cost for cancelling the RUV before closing.
I want to start my RUV right now. Where do I go?
Type ruv.new into your browser, or click Get Started above.
