Inside the Deal is a series where we interview investors and entrepreneurs behind some of the most high-profile, invite-only deals on AngelList. In this interview with Gil Penchina and Shawn Merani at Flight.vc, we go inside their investments in Dollar Shave Club, Cruise and Managed by Q to learn: How they manage working with dozens of syndicates and thousands of backers How they work with syndicate leads to improve pricing How they’re getting their backers access to deals at all stages Julie Ruvolo: You guys had two billion-dollar exits recently. You invested in a secondary transaction in Dollar Shave Club led by Mike Jones, and you also worked with Zach Coelius to raise a $100K round on AngelList in Cruise as part of their $12.5M Series A led by Spark Capital. Gil Penchina: The interesting thing about both of these deals is that we don’t just do seed or angel investing anymore. We’re stage agnostic deployers of capital. We’re doing seed, bridge, A, B, C and common. If you look at the two unicorn deals we had this year, Cruise was a Series A, and Dollar Shave Club was post-Series B. The fact that they both got acquired within a year is pretty shocking, but they weren’t seed deals.
Continue Reading: Inside Flight.vc’s back-to-back billion dollar acquisitions
With the Indian startup ecosystem ripening, a lot of venture capitalists are making their way to the country. Following a similar path, Silicon Valley-based AngelList is also finally bringing its online angel investment platform to the Indian sub-continent. AngelList has appointed ex-LetsVenture head Utsav Somani as an Advisor to spearhead its operation in the country. He will be responsible for setting up and bringing syndicates to India, reveals Somani in his official Medium post. If you’re unaware of what “syndicates” are, they are actually a newly coined model by AngelList, which helps socially active and well-connected angel investors pool in more money by spreading up in their personal network. Today, AngelList has more than 4,400 investors operating across 170 syndicates. In the Medium post titled ‘Bringing AngelList to India‘, Somani further adds, My role will consist of opening dialogue with government officials and regulators with suggestions that’ll benefit startups and investors in India. I’ll map out the Indian regulatory framework so AngelList can come in with their pop-up VC structure that enables venture investing online at scale. AngelList was founded by Naval Ravikant and Babak Nivi in 2009 to democratize the process of angel and seed investments.It started as an online introduction board for tech startups, but has since then expanded into a full-blown platform for startups to raise money from angel investors. The platform allows investors to put in as little as $1,000 alongside accredited investors through investment syndicates — as described above. The online investment platform has, till date, facilitated $360 million in investments across 1,000 startups including Uber, Twitter and many other major names. A whopping 441 startups raised a staggering $163 Million in initial angel funds through its platform in 2015 alone. AngelList has also helped pick out 50 of the top leads on the platform, who already have a track record of identifying high-performing deals. When China’s third largest private equity firm China Science & Merchants Investment Management Group had chosen AngelList to power up a $400 Million fund, Ravikant had hinted on plans to enter the Indian startup ecosystem. And now the appointment of Utsav Somani has finally confirmed everybody’s suspicions.
Source: AngelList eyes Indian startup ecosystem, brings ‘Syndicates’ and Jobs service to India | The Tech Portal
The following is a clip from the blog of my new “must read” blogger, Steven Dresner founder of DealFlow which is an editorial based upon Brad Feld’s blog post regarding his Foundary Group’s 2 year experiment managing it’s own investment syndicate on the Angel List platform.
Brad Feld is one of the few venture capitalists whose blog I read regularly. For those unfamiliar with him, Brad is a partner with Foundry Group and a co-founder of Techstars. He also happens to be a prolific thinker whose insights and investment decisions matter to me. So on Tuesday, when I saw the subject line of his recent blog, “Feld Thoughts: Ending our FG Angels Experiment,” I was eager to dive into what would surely be something of interest. As usual, Brad didn’t disappoint. The blog begins with this: “After two years of a dedicated experiment, we’ve decided to stop making new investments via our FG Angels Syndicate. We’ve learned a lot, achieved some of our goals, but ultimately have decided that the effort required to maintain our investment pace on AngelList is too great for us, at least for now.” First, a little context is in order. Foundry Group started FG Angels when AngelList announced their syndicates product back in September 2013. According to Brad, his group was the first venture firm to create a syndicate.
Continue Reading: What I learned from Brad Feld’s experiment on AngelList