Rolling funds are great for part-time angel investors that want to add more structure to their practice. They are very sub-optimal for enduring venture capital firms. They are also very difficult to manage when you have a small fund because of all the infrastructure costs, unless you use a platform like AngelList. However, AngelList owns the entities and the bank account, so it’s impossible to build and enduring VC firm on it. Finally, most LPs are not familiar with them and you will make your fundraise significantly more challenging. If your goal is to build an enduring VC firm, rolling funds are very difficult to scale.