avlok
@avlok
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2022 is a big year for design at AngelList Venture. Here's a (small) preview of what's coming.
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Update: We're working on a real-time valuation dashboard. Likely 7-day trailing average or weekly.
2022 VC Market Update. Median valuations January through April. Pre-seed: $7M → $9M.Seed: $20M → $21M.Series A: $72.5M → $75M.Series B: $283M → $250M
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Just committed to an investment on AngelList using a DAO. The DAO was also created on AngelList.
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Solo capitalists with their own media arm will have an unfair advantage in leading venture rounds. Almost 300K+ views within 24 hours.
Today I'm announcing that I have led the $5 million Series A round in @synthesischool. Our current education system was built for the industrial age. We must teach our children to be prepared for the digital age. More information in video and thread 👇🏽👇🏽👇🏽
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Why isn't the US government putting Bill Gates in charge of the response? He's the ideal person to balance the health and economic trade-offs.
"This is kind of the nightmare scenario," says Bill Gates, who warned about the dangers of a pandemic in 2015. "[I] talked about how we needed to invest in new platforms so that we could quickly make diagnostics, make drugs and make vaccines to stop an epidemic." #CNNTownHall
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The next big enterprise company is in an engineering backlog somewhere.
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AngelList is now launching venture firms within 1 week from application. We're getting faster as we scale.
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Founding & Funding startups changed my financial life. Now, you can learn both these skills while working at AngelList Venture. I wish this existed when I started my career.
Introducing Funders & Founders:. Work at AngelList Venture and access $100k to invest in startups & $100k if you start your own business when you leave.
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AngelList is considering aggregating multiple fund-of-funds that want to invest $Xm+ into emerging managers that fit their thesis. There’s interest. Would this be useful?.
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AngelList’s game plan with cap tables is to shrink the market, not grow it. We shrink the market with a much better product at a much lower price. I think we can cut the market for cap table software in half, to start. Then, we will expand with innovative products that sit.
Carta pulled a great misdirect last night. Cap table customers, who were already irate over their incessant price increases, had lost trust in the company. So Carta exited a business that represents < 1% of their revenue, distracting startups who were walking out the door to.
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People are often surprised by how small we are (by headcount) given our pace of shipping and business scale. Person : Impact ratio is incredibly high.
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Today, @AngelList provides the most comprehensive venture fund product. No one else comes close. Our original plan was to outsource the back-office but in 2019, we realized no vendor could deliver the experience our customers needed. So, we took it on ourselves. (1/3).
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~6 mos since launch, AngelList RUVs are a default for most fundraises. Founder: “This almost seems too easy, it’s weird.”. Founder: “Wow. This is a good product. I wish I had known about it before this last round.”. Founder: “The RUV sounds like exactly what I need”.
1/ Introducing Roll Up Vehicles, a way for founders to efficiently raise from up to 250 angels with a single line on the cap table
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Starting to see an increase in shutdowns across the startup community. For founders - it's tough, lonely & feels like a thankless job to wind down in an orderly fashion. I went through it once. DMs are open if you need any advice on how to manage expectations w/ investors.
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I’m often asked: Why use @AngelList to run a fund? . My answer: AngelList abstracts away *all* the complexity associated w/ starting & running a fund. Whether first fund or fifth, GPs need to manage a web of stakeholders for many yrs:. 1. LPs.2. Regulators.3. Portfolio companies.
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From our internal slack (Lead = GP). Others: “Launch your fund in 24 weeks”.AngelList: “Launch your fund in 1 week”. Excited to decrease from 1 week to 1 second.
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Product velocity @ AngelList Venture. Idea to Shipped < 1 week.
Behind the scenes, here was the timeline: . Last Saturday: Idea .Monday: An engineer decides they wants to build it.Tuesday: Live prototype .Friday: Launch . Product velocity 📈 . (We're hiring engineers & attorneys – DMs open)
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Spent my Sunday morning building something small on Replit. Magical product.
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Great Saturday morning energy at AngelList HQ.
We’re hosting an AI hackathon at the AngelList office. Join us if you’re building with agents. When: Sat, Apr 22 and Sun, Apr 23.Where: SF (Jackson Square). Lot of interest already that puts us over capacity. We will be selecting hackers & builders only.
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AngelList is introducing Crypto SPVs and RUVs in partnership with @CoinList. Why @AngelList?.- Almost $6B+ deployed capital via SPVs.- Profitable & enduring unlike other new providers.- Now $0 fee for USDC funding.- Create, raise & deploy within minutes. Why @CoinList?.- 12M+.
Startup founders want to know, Crowdsale on @CoinList or raise from a Syndicate?. Now you can do both. @CoinList + @AngelList now offering Crypto SPVs. Do a Syndicate for Awesome Angels. Do a Crowdsale for Cracked Communities. Both with @CoinList.
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The real source of truth has always been legal docs. Every company learns & pays to fix this during an equity raise. We launched Tie Out to automatically use legal docs as the source of truth. Any cap table provider that doesn’t do this is creating a major headache & bill for you.
Announcing: Tie Out Assistant . Cap tables are not a source of truth. The only sources of truth are the underlying legal documents and your law firm. Tie Out Assistant scans legal documents with AI to uncover problems in your cap table.
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AngelList Financial Infrastructure team is now shipping a new feature every business day. Incredible depth & speed across the entire stack: Fund Management, Portfolio Management, Tax & Banking. Foundational work that enables us to scale.
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Carta pulled a great misdirect last night. Cap table customers, who were already irate over their incessant price increases, had lost trust in the company. So Carta exited a business that represents < 1% of their revenue, distracting startups who were walking out the door to.
Founders should not feel trapped on Carta, but when companies leave, we've heard from founders that Carta has: .- Shut off cap table data exports.- Canceled their securities. Hopefully Carta can find a founder-centric fix. Here's what we're doing at AngelList. We're comp’ing.
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Next week, @AngelList will begin shipping these infrastructure products as individual, software products for any venture fund to use. Stay tuned!. (3/3).
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What are the top podcasts in business and finance that want to talk about rolling funds? My DMs are open or feel free to reply here.
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AngelList’s Cap Table product is growing 30% month over month . Lots of migrations 👀.
Over a thousand startups have already moved off other products to AngelList Cap Table. We asked them why (direct customer quotes): . "I don’t know why I would stick with Carta"."My law firm is already familiar with your tool"."You mean switching only takes two days".
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I’m helping a startup build their data room for a Series A. Our data room product (while intended for Funds) is a delight to use for a startup. Wish I had it as a founder. If you’re a founder putting together a data room for a raise, DM me. Will give you an extended free trial.
Introducing: AngelList Data Room. Impersonal, unintuitive data rooms shouldn't be the first experience your investors have. Reimagine your fund's data room with modern design, intuitive permissions, & advanced analytics. Make the right first impression.
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AngelList is quickly becoming the default for venture startups to start & scale. Incorporation, banking, cap tables - all in one place.
The @AngelList Stack team has been above and beyond helpful with help I've need post-incorporation – so glad I opted to use them.
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Beyond the highlights, our team shipped a ton of features to make starting and scaling a venture firm a breeze.
AngelList Venture 2021 Year In Review. Highlights:. - Launched Stack, RUVs, & Deal Partners. - $3B –> $10B in assets supported. - 3.8K –> 11.3K startup investments. - $1B Capital Network. - 190 unicorns. - $20M saved for founders via RUVs ($173M volume).
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“If you're offered a seat on a rocket ship, don't ask what seat! Just get on.”. We’re growing rapidly and hiring across all roles esp engineering.
We're feeling the love for Roll Up Vehicles 🥰🥰🥰 . There is so much more to come, so please help us spread the word: AngelList Venture is hiring across all teams! . Join us and help build the future of venture capital 🚀
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Hard agree. I stuck with my first company 2 years longer than I should have. Very stressful because I misunderstood how venture investing (i.e. portfolio math) works. Also, a contributing factor to a co-founder rift at the time. I finally faced reality, worked up the courage.
How many founders are killing themselves to try and get their investors a return on company they’ve already written off internally….
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Today’s launch of AngelList Treasury never would have happened were it not for the collapse of SVB. Here’s the behind the scenes story of what happened at AngelList to launch this product.
Introducing: AngelList Treasury. Centralized capital mgmt for all VC funds, with any back office provider. -Protect LP capital w/ FDIC & GSIB accts.-Peace of mind w/ automated bank redundancy.-Optimize IRR w/ MMF & credit lines.-Integrated in one dashboard for all your funds.
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AngelList conducts protective transaction reviews for our Fund & SPV customers (& their LPs). So, we see errors made across the ecosystem. - 1 in 5 transactions (follow-ons, m&a, etc) have an error.- Miscalculations & omitted pro rata ~ 60% of errors with large financial impact.
It’s wild how many mistakes I catch in mission critical corporate things both as an investor and as a founder. I’ve found major miscalculations in captables, typos that wildly swing outcomes, and straight incompetence. Founders — check everyone’s work!.
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Every team has an immune system. When talent density is high, the immune system is strong at weeding out bad perf. When talent density is low, the immune system is weak at weeding out bad perf. Weak immune system weakens talent density further. Tough cycle. Only soln is a reset.
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I'm excited to work with @pradvig (Founder / CEO) . He's the perfect fit for @AngelList: wrote most of the code & sold most of the customers for Nova. Nova also rounds out our software suite for mid-to-large funds & their back-office providers.
We're thrilled to welcome @novaohq! . Nova enables institutional funds such as @PanteraCapital, @vaneck_us, & @galaxyhq to manage digital subdocs, data rooms, & investor comms. We’re excited to incorporate them into our Software Suite for private markets.
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AngelList Equity Management.- All the basics with Integrated No-Fee RUVs.- Team-based pricing ($$). Other Vendors.- All the basics.- Stakeholder-based pricing ($$$$). And, we can migrate most cap tables to Stack in minutes. ✌️.
Announcing: Stack Equity Management now available for all US startups. - 1300+ startups have setup or migrated their cap table to Stack.- Pay per team member, not stakeholder (~50% savings vs others).- Incl No-Fee RUVs, offer letters, equity grants & more.
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AngelList = Capital Network + Fund Admin.
Announcing: The AngelList Capital Network has reached $1 billion a year. GPs can launch an SPV or fund, raise from their own LPs, and from the rapidly growing network of AngelList LPs who invest $1B annually on our platform.
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Close investors with a single link - for free.
Announcing: No-Fee RUVs for Startups. 300 startups like Pipe have already used Roll Up Vehicles to collect small checks from high-value angels in one line on their cap table. Now we're waiving all of our fees—startups just pay state filing costs (~$1K).
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Super excited to announce our new access fund. We moved it to a rolling venture fund structure. An always open, infinitely scalable, venture fund. This means more capital to invest alongside leading GPs on the @AngelList Venture platform.
Invest broadly in a set of diverse and high-quality deals alongside top tier VCs. Your check goes into a pool of funds called the AngelList Access Fund.
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Excited for demo day.
We’re hosting an AI hackathon at the AngelList office. Join us if you’re building with agents. When: Sat, Apr 22 and Sun, Apr 23.Where: SF (Jackson Square). Lot of interest already that puts us over capacity. We will be selecting hackers & builders only.
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Great work from the @AngelList team launching this product. Each launch moves us closer to building the only unified platform for all internal functions (portfolio mgmt, treasury, investor mgmt, etc) for $100M-$10B+ funds.
Introducing: AngelList Investor Portal. Your relationship with investors doesn’t stop after they’ve made an investment. AngelList Investor Portal enables established firms to share documents, showcase performance, & create content that keeps LPs engaged.
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Cap tables are too hard to use today. We did something about it. Simply write what you need to get done (just like an email). And, it will do it.
Introducing the first AI-assistant for cap table management. Just ask, and AngelList Equity will do it for you.
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I'm excited about this small quality of life improvement for Fund Managers & Founders. After submitting an investment, we can automatically kick-off the closing process. Saves time, an extra loop & founders get to close their round faster. 1 in 2 Fund Managers are now using
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We’re hosting an AI hackathon at the AngelList office. Join us if you’re building with agents. When: Sat, Apr 22 and Sun, Apr 23.Where: SF (Jackson Square). Lot of interest already that puts us over capacity. We will be selecting hackers & builders only.
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We've already made 2 investments from this initiative with more on the way.
Introducing Funders & Founders:. Work at AngelList Venture and access $100k to invest in startups & $100k if you start your own business when you leave.
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To my knowledge, the largest customer allocation ever.
We raised an additional $44M from AngelList customers. In partnership with our GPs, nearly 10% of active LPs invested.
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AngelList’s Tie Out detects material cap table errors from legacy cap table providers every day. Most companies have given too much or too little equity to their holders. If your cap table doesn't have auto tie outs, you're taking on material risk. Ofc, we bundle w Cap Tables
Announcing: Tie Out Assistant . Cap tables are not a source of truth. The only sources of truth are the underlying legal documents and your law firm. Tie Out Assistant scans legal documents with AI to uncover problems in your cap table.
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Within minutes of trying @arcinternet, it's become my default browser. It's intuitive folder structure to organize my tabs won me over.
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We didn’t want to be a traditional services business, so we wrote several below-the-surface infrastructure products to deliver a magical experience. (2/3).
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Creative application of the venture lego blocks we've built @AngelList.
Behind the scenes: we've partnered with @AngelList to launch a series of rolling funds. Some will "index" into every company, others will back a specific thesis, i.e. geographies, sectors. From the founder's POV, we roll everything into one easy $125k SAFE note.
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Imo, 3 things. Talent: Each new hire is expected to raise the bar of the team. I run this interview. Product: New products should solve a top 3 problem with a 10x better solution. If not, kill it. Velocity: We increase our velocity by scoping down. Each day matters.
@sriramkri @AngelList It’s a great case study in unlocking velocity. A buddy there explained part of it but would be awesome to hear an exec or product leader from AL break it down.
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I wish this existed when I first started learning about the nuts and bolts of venture.
1/ Introducing the AngelList Venture Education Center, a resource where emerging and veteran investors alike can learn more about the intricacies of venture capital.
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Thrilled that Josh is CEO of Belltower (native fund administrator) . Hits the trifecta:.* Deep fund administration background with $10M-$1B funds.* Has been the customer working within a fund.* Bullish on software's impact on fund management . Onward ✌️.
We’re excited to welcome Josh Cowdin as CEO of Belltower, our native fund admin!. Josh brings extensive fund admin experience from his time at Strata & Alter Domus, servicing funds $10M to $1B in AUM. Read more about Josh & our partnership with Belltower.
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AngelList 🤝 Crypto.
@larvalabs I'd like to thank the team @AngelList Venture for their help in making this happen 🙏.
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Excited for this wide-ranging conversation on the Future of Space with @SvenSchnieders and these amazing founders/investors. • @judegomila.• @zebulgar (@vardaspace).• @Mkokorich (@momentusspace).• Andy Lapsa (@stoke_space). Friday, Mar 12 at 8pm PST.
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TLDR: .- switched to @AngelList .- near instant migration, over a holiday weekend.- no effort from the founder or company.- better product & pricing.
Alternatives to @cartainc? 😥. Love love love the product but holy c*^% it’s expensive! . We’re now at $5k/year & in a 🐻 market, that’s prohibitive for a seed stage company . I’ve been a HUGE proponent & it made our seed round a breeze; but Gotta stretch the runway ✈️.
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Send and sign SAFEs quickly. Embedded with aggregate valuation data so founders never worry about underpricing again.
Announcing Using market data from thousands of recent investments on AngelList, founders can now see what terms similar companies have used and create SAFEs quickly.
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Your Portfolio Co-Pilot. Pro-tip: set an email filter to forward all portfolio company updates & deal docs to your relay address. You'll receive a structured summary. Demo video below.
Introducing: AngelList Relay. AI-powered portfolio analyzer, simply forward an email. - Structure company updates.- Organize 16+ legal docs like SPAs and SAFEs.- Parse & extract 27+ supported terms.- Instantly identify potential off market terms.- Save time writing LP investor.
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Yes, we’re consistently shipping new financial products. And, our growth rate is accelerating as we get larger.
I was just chatting with @jtoyPro from AngelList. They're BUSY. 📈. AngelList Venture is hiring across design, engineering, operations, sales, legal, etc.
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@rrhoover I always ask myself: “if I were to leave AngelList and compete, with all the info I know, how much $ and time would it take to catch up?” . If the answer is anything other than “it’s getting infinitely more expensive with years or decades to catch up”, it’s not defensible.
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Built for founders, by founders. We're currently hiring future founders.
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Also, we shared some infrastructure stats in a blog post. - Initiated 660,000+ capital calls to LPs.- Facilitated 170,000+ LP distributions.
Introducing: AngelList Treasury. Centralized capital mgmt for all VC funds, with any back office provider. -Protect LP capital w/ FDIC & GSIB accts.-Peace of mind w/ automated bank redundancy.-Optimize IRR w/ MMF & credit lines.-Integrated in one dashboard for all your funds.
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AngelList & Stripe partnering to give founders the best infrastructure to start & run their companies.
Announcing: AngelList + Stripe Atlas. Founders starting on AngelList now get Stripe Atlas incorporation + AngelList cap table, fundraising, and banking—all in one sign-up. Over 65,000 companies have started with AngelList or Stripe Atlas. Now founders can easily use both.
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Fun, wide ranging discussion on being customer centric, Square, AngelList, rolling funds and much more.
🚨 New 20VC W/ @avlok 🚨 . Thrilled to release our episode with Avlok @AngelList. Question: What is your fave story from working with @jack? . @KatieS @jess @jeffseibert @rishigarg @pm? .
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We've been working on something new at @AngelList - "Similar to how SAFEs brought high-resolution fundraising to startups, Rolling Venture Funds brings high-resolution fundraising to venture funds.".
Introducing Rolling Venture Funds: Always-open venture funds with auto-renewing capital commitments
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Without RUV (left) vs With RUV (right).
Founders: if you are about to open your friends and family round or want to make it easy for angels to invest in your company, check out my experience using AngelList's RUV
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Founders backing founders.
"I realized that the more I invest in great founders, the more it inspires me and teaches me to become the best version of myself. We’re both blown away by what we’ve been able to achieve so far with AngelList’s support." -@rahulvohra .
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Play as many compounding games as possible. Your future self will thank you for it.
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AngelList Cap Tables publicly launched < 6 months ago. And, it's quickly becoming the default choice for every startup. Excited to see how this polls in another 6 months.
Cap table.
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Venture activity had a slight rebound last month (Oct), with small improvements to both activity and tenor. Our market activity estimates are based on seasoned investments into more than 10,000 startups.
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Ultimate test of culture - what % of the people deeply care.
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20,000 deal partners have been created since we launched it 3 yrs ago!. GPs have used this feature to share carry with people who helped source or diligence an investment. It's as simple as sending a link and AngelList takes care of the rest.
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We've already made 4 investments since announcing this benefit. The team member making the investment earns carry. Join AngelList. Become an investor.
We have over 30 open positions at AngelList Venture – some web3/crypto related. A unique benefit of working at AngelList is that everyone who joins our team gets access to up to $100k to invest in startups.
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Unparalleled exposure to venture & crypto.
The team at @AngelList is hiring for a crypto ops lead - Fantastic opportunity to join a world class team and get unparalleled exposure to venture/crypto. DM if interested and I can connect you to the team :).
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Agree. It’s none of the state or VC’s business to know this. Feels invasive and could lead to other forms of discrimination (second order effects). It has nothing to do with backing great founders.
VC firms in California… “must report, for example, the race of the people they back, as well as their disability status and sexual orientation.”. High on the list of things I do not want to *annually survey* founders I work with about: orientation. Still gay? Cool, cool. ಠ_ಠ.
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@AliBHamed @lpolovets 👋 Thanks for writing. (1) - uninvested capital rolls into the next quarter.(2) - carry is cross-collaterized across quarters like a trad fund.(3) - we have deep infra and software for reporting.(4) - like (1), it rolls forward.(5) - we already see large SPVs spun up for this.
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An executive coach but all they do is ask you “What did you get done this week?”.
An executive coach but all they do is help you find ways to move faster.
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James is a stellar founder, operator and investor. Huge get for HF0 and Miami.
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@ericbahn @johnnieryu @cartainc @AngelList Flashy sales pitch is not the same as a great product. Many GPs who have migrated can attest. SPVs & Funds are long duration products. Year 2-10 are the most important & requires deep software that integrates all svcs (tax, accting, mgt co, etc). Imo, our product is years ahead.
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I would invest in a Desi-ETF cc @frecfinance.
As the saying goes, you either die a startup or live long enough to appoint a desi CEO
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@NWischoff We have a lot of funds with their own LPA. It hasn’t been broadly marketed yet. Happy to share more details if there’s interest.
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AngelList just filed Form ADVs for 15K+ Funds on behalf of our GPs. What are Form ADVs?.This is an important, annual regulatory filing (SEC/State) that needs to be made. Without AngelList, it’s left to the GP to handle. Another unique benefit for GPs working with AngelList.
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Bank regulations & sensitivities are changing rapidly behind the scenes. Mercury & other fintechs are actually doing startups a huge service by managing all of the complexities on their behalf. In a very small % of cases, their hands are tied.
This was one of those weeks that is hard as a founder, and it was harder on some of our customers. We made the difficult decision to add to the list of countries Mercury can’t support if founders reside or their businesses are headquartered there, including: Ukraine, Nigeria,.
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ChatGPT is better than Google Search. I'm using it for most queries. And, for writing rap lyrics.
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