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AngelList
Oct 12 7am Pacific TimeE M B A R G O E D U N T I L
AngelList is the world's largest marketplace for
and jobsstartup investing
startup investing
$205M raised online in 2 years
$13M
$27M
$40M
Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015
Metrics
Raised online In last 2 years
$205M
Active syndicates In last 12 months
165
Startups funded 650
Investors 4,400
Why this works: Syndicates
Syndicates are pop-up, online, venture funds
LPs invest one deal at a time
LPs can opt out of any deal
Online closing and tracking
Designed for scale: 165 syndicates
pop-up online venture funds
Deals by experienced angels & VCs
Often founders, close to startup community
Leads earn carry—no mgmt fees
LPs are individuals or institutions
$175k allocation
PATIENTS KNOW BESTElad Gil
$25k$150k
Elad
syndicate
Close in 5 days
15% carry to Elad 5% carry to AngelList
No management fees
38 investors
$150k
B AC K E D BY
How syndicates work
Syndicates vs Traditional VC
No 10-year lockup
v
Hire and fire partners anytime
No management fees—syndicates invest 97% of capital
Invest in the partner, not the firm
Skin in the game—leads provide 16% of capital
Fast online pro ratas
Online closing and tracking
165 active syndicates
Elad Gil Foundry Group Dave Morin
Zynga, Sendgrid, Pantheon, Chute, VigLink, about.me
Path
Former VP Twitter, Google
I N V E STO R
Airbnb, Square, Pinterest
F O U N D E R
Color Genomics, Mixer Labs
T E A M
I N V E STO R I N V E STO R
Nest, Dropbox, Slack
F O U N D E R
T E A M
Facebook Platform & ConnectFG AngelsSY N D I CAT E
165 active syndicates
Paige Craig Scott & Cyan Banister Tom Fallows
Uber, Zappos, Thumbtack Wanelo, SpoonRocketLyft, Twitter, PostmatesI N V E STO R
F O U N D I N G PA RT N E R
T E A M
Arena Ventures
Paypal, Postmates
I N V E STO R
B OA R D M E M B E R
Head of Uber Global Expansion
Mercantila, Google Express
I N V E STO R
F O U N D E R
T E A M
US Marine Corps
Ironport, TopsyF O U N D E R
4,400 syndicate investors—many founders
Joshua SchachterFounder of del.icio.us
Steve CaseCo-founder of AOL
Othman LarakiCo-founder of Mixer Labs
Stephan PaternotCo-founder of theglobe.com
Jared KopfFounder of AdRoll
Ben DavenportCo-founder of Beluga
650 startups funded
Tim FerrissSY N D I CAT E D BY
$748KR A I S E D O N L I N E
$150KR A I S E D O N L I N E
Rick MariniSY N D I CAT E D BY
$500KR A I S E D O N L I N E
650 startups funded
Naval RavikantSY N D I CAT E D BY
$779KR A I S E D O N L I N E
$163KR A I S E D O N L I N E
Jenny RookeSY N D I CAT E D BY
$615KR A I S E D O N L I N E
Follow-on rounds from top VCs
$141K
$65MF O L LO W - O N S
Bessemer
R A I S E D O N L I N E
I N C LU D I N G
$748K
$60MF O L LO W - O N S
Kleiner Perkins
R A I S E D O N L I N E
I N C LU D I N G
$150K
$57MF O L LO W - O N S
Accel Partners
R A I S E D O N L I N E
I N C LU D I N G
Follow-on rounds from top VCs
$163K
$31MF O L LO W - O N S
Bessemer
R A I S E D O N L I N E
I N C LU D I N G
$225K
$30MF O L LO W - O N S
Kleiner Perkins
R A I S E D O N L I N E
I N C LU D I N G
$500K
$20MF O L LO W - O N S
Redpoint
R A I S E D O N L I N E
I N C LU D I N G
Honk syndicate closed in like 30 mins–simply amazing.
Paige Craig@paigecraig
Syndicate leads love it
· Mar 2015
Syndicate leads love it
I credit @AngelList for giving me the platform from being an angel to a fund overnight that has brand and reputation. Firms are noticing.
Sumon Sadhu@sharpshoot · Feb 2015
@tferriss' syndicate is a built-in network of advocates, acting like a megaphone on our behalf.
Shyp@shyp · Dec 2014
Founders love it
The @AngelList investment process is so easy. Investing in startups literally feels like placing an order on Amazon.
Jeff Morris Jr.@jmj · Apr 2015
Investors love it
Can you love a company? @AngelList just let me make a pro-rata investment in a deal in the same 45 seconds as initial. Seriously awesome!
John Danner@jwdanner · Feb 2015
Investors love it
Funds complement individual investors
$25MM A I D E N L A N E
I N D I V I D UA L I N V E STO R S
$13MS E L E CT F U N D S $5M
AC C O M P L I C E B O S S
Larger investments
Faster closings
Guaranteed capital for good deals
Funds new syndicates
Funds complement individual investors
A N N O U N C E M E N T S
$ 4 0 0 M S E E D F U N D
$400M seed fund
Invests in the top syndicates
Based in U.S. & independent of AngelList
Largest seed fund ever
Activates new syndicates
Veronica WuE D U C A T I O N Yale, B.S. Applied Math
Berkeley, Ph.D. Industrial Engineering and Operations Research
Huoy-Ming Yeh
E X P E R I E N C E Managing Director, Education and Enterprise, Greater China, Apple Vice-President, China, Tesla
E D U C A T I O N Wellesley, B.A. Physics USC, Masters Electrical Engineering MIT MBA
E X P E R I E N C E Technical Staff, Sun Co-Founder, PacRim Venture Partners Managing Director, SVB Venture Capital, Asia
Engineers with long careers in technology and venture capital
China Science and Merchants Capital is fund’s largest LP
Founded in 2000
Top 3 PE firm in China with $12B under management
Investing areas include information technology, new materials and clean energy
Mr. Shan Xiangshuang
Founder, Chairman and CEO
Co-Chairman of the China Venture Capital Association
Widely regarded as a pioneer in Chinese venture capital
N E W F O R E A R L Y - S T A G E I N V E S T I N G
N E W F O R L A T E - S T A G E I N V E S T I N G
AngelList SPVs
AngelList SPVs
Allows early-stage investors to raise capital for late-stage investments
For VC firms and angels with pro ratas & special opportunities
Capital comes from their existing limited partners and relationships
Completely private
All online · Uses AngelList back office
SPVs can request additional capital from funds like CSC Upshot
AngelList SPVs
* Names used with permission
4 DEALS IN 2015 4 DEALS IN 2015
$35M RAISED TO DATE
11 DEALS IN 2015
5ANGELS
AngelList SPVs: Costs
No cost to VCs and angels
No cost to startups
LPs pay carry to VC or angel
LPs pay no carry to AngelList
LPs pay ~ $10K out-of-pocket costs
AngelList earns carry if SPV requests capital from funds like CSC Upshot
AngelList is the world's largest marketplace for
investing andstartup jobs
startup jobs
Metrics
Active candidates Last 30 days · Over half are engineers, designers or product managers
49,000
Active companies Last 60 days
8,100
Matches per month 52,000
New candidates per month 41,600
52,000 matches per month
5K
10K
15K
20K
25K
30K
35K
Mar 2012 Feb 2013 Jan 2014 Dec 2014 Sep 2015
United States
India
Rest of world
Why it’s working
Simple, Tinder-style matching
See salary and equity information upfront
No recruiters—candidates are connected directly to startups
Apply to thousands of jobs with one profile
Apply privately—your boss won’t know
Free · Fun
Over 7,000 companies recruiting
Twitch
Tinder
Asana
Greylock Partners
Yelp
Instacart
Shyp
Coinbase
Sequoia Capital
Uber
Candidates love it
I want to give a huge shoutout to @AngelList during this job search. Best site I've ever used, hands down.
David Turkell@DavidTurkell · Jun 2015
Candidates love it
I wish every company would use @AngelList for recruitment. Much more convenient.
Michael Xander@michaxndr · Jul 2015
Startups love it
Applicants on @AngelList are ~10x better than @LinkedIn so far on average.
And the cost? AngelList = Free. LinkedIn = $300+
Eric Jorgenson@EricJorgenson · Jul 2015
Startups love it
If you are a tech company not recruiting talent on @Angellist, you're doing it wrong.
Daniel Pearson@DanielPearson · Jun 2015
A N N O U N C I N G
Jobs app for iOS
Jobs app for iOS
Universal iPhone and iPad app
In-app chat for companies and candidates
Group chat for company teams
Filters for location, role, full-time
Undo if you swipe right by accident :)
Thank you