![]() Instead of having to manage another dozen angels, they can just manage a relationship with me. What AngelList Syndicates has done for me most of all is to make me more helpful to founders. Those questions have been answered, and folks like Gil Penchina (serious angel), and Tim Ferriss (serious thinker, author and personality, and developing into a VERY SERIOUS angel investor), have proven that they can bring real deal flow to the platform. Most folks thought that AngelList wouldn’t be able to attract real fund managers, and that those fund managers wouldn’t be able to get access to A+ deals. (In most cases we get the option of a board seat, even though I really don’t have the time to sit on that many boards.)īottom line: when I wrote about AngelList 11 months ago, and said a bunch of ‘outlandish’ things this was all very speculative. Well, I’m able to lead a round of funding, set the price with the founder, and perhaps even take a board seat. This is the revolution and no one in the mainstream press seems to have caught on yet (despite me telling them: “hey, you might want to look over here … something is brewing.”).Ī couple of years ago my level of angel investing would be significant on a number-of-deals basis (two or three per month), but not very important or significant on a dollar basis. If we syndicate 20 of those deals, we are on pace to put $7.67m a year to work. The LAUNCH Fund will do three deals a month and ~30 a year. Two out of nine deals are closing as I write this, so that $2.63m will be slightly higher if we continue to be vastly oversubscribed. Our average Syndicated deal was $353k, with $61k on average coming from the LAUNCH Fund and $292k come from our Syndicates. In those deals the LAUNCH Fund did a total of $550k, while the Syndicate came in for 4.78 times that amount for $2.63m. Great things to come from Apple+Swell combo I’m certain.ĭuring the past four months we syndicated nine of the LAUNCH Fund’s deals to our AngelList Syndicate for a total of $3.18m invested. Ī company which, I might add, is performing at an absurdly high-level while evolving their strategy ( <- shameless suck up).Īnyway, we got a “quick win” for my fund and I’m super happy for the founders of Swell. Recently there were some reports in the news about Swell and that technology company we all love soooooo much in Cupertino. You may remember that I wrote a blog post 6 months ago about how excited I was to invest in Swell. ![]() I’m told this is a savvy plan by my much, much savvier friends. We’ll invest another $4.05m in the next 24 months for a total of $6M/60% invested, keeping back the last $4m to keep our pro rata in the winners. We are now 19.5% invested in 13.5 months. In the past year I’ve invested $1.95m in 30 startups from the LAUNCH Fund (from my $10m angel fund). It’s a blast to meet smart folks with killer ideas who want to change the world - and then I get to write a check and give one out of every 250 of those ideas a try! I’m absolutely loving being an angel investor.
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