angellist presentation kevin laws 11.19.15

8/20/2019 AngelList Presentation Kevin Laws 11.19.15

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Online Fundraising andSyndicates


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Recent Metrics

Raised onlineIn last 2 years

$205M

Online FundraisesIn last 12 months (11/1/2014 - 10/31/2015)

393

Online Fundraises to Date Over 700

Investors 4,400


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1. Most online deals have a

limited number of investors

17%

19%18%

13%

9%

7%6%

5%

2%

4%

0-10 11-20 21-30 31-40 41-50 51-60 61-70 71-80 81-90 91-98

% o

f D e a

l s

Investors in Each Deal


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Online Fundraising

Crowdfunding≠


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2. Almost all deals are

privatePublic (506c)

3%

Broad Private

(506b)60%

Invite-Only(506b, limi

teddistribution)

37%


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…even more so recently(Last 6 months only)

Public (506c)2%

Broad Private(506b)

52%

Invite-Only(506b, limiteddistribution)

46%


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3. Activity is moving quickly toonline deals led by a credible

investor (Syndicates)

0

1,100

2,200

3,300

4,400

5,500

Q4'14 Q1'15 Q2'15 Q3'15

I n v e s t o r s

Offline Introductions Online Closes


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Syndicates


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Why this works: Syndicates

Syndicates are pop-up, online, venturefunds

LPs invest onedeal at a time

LPs can opt out ofany deal

Online closing andtracking

Designed for scale:165 syndicates

Deals byexperienced

angels & VCs

Often founders,close to startup

community

Leads earncarry—no mgmt

fees

LPs areindividuals or

institutions


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How syndicates work

$175k allocation

PATIENTS KNOW BESTElad Gil

$25k$150k

Elad

syndicate

15% carry to Elad

5% carry to AngelList

No management fees

38 investors

$150k

B A C K E D B Y


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Elad Gil

38 investorsS Y N D I C AT E

$150K

AngelList Advisors

SEC-RegisteredExempt Reporting Advisor

$158K

AL-Patients-Know-Best, LLC

AD V I SE D BY

Actual ExpensesBlue Sky, LLC Formation Costs,Banking, Tax & Accounting for

Syndicate Lifetime

$8K

PATIENTS KNOW BEST

$25K


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Key Elements of Syndicates

Skin in the game (lead averages 16% of investment)

v

Pro-ratas

Insiders vetting deal & terms

Ongoing deal monitoring and decisions by lead

Online/automated accreditation checking, closing, fundingSmaller investments allow more diversified portfolios

Ready for Insti tutional Capital?


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Syndicate Issues

1. Need clarity from SEC that VCs (ERAs) can invest inSPVs that share an advisor

2. Syndicates aren’t allowed under the currentcrowdfunding regulations (no SPVs, no carry). Allowing them to work under both accredited onlineinvesting and unaccredited crowdfunding would helpboth.


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Thank you


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Backup Slides


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165 active syndicates

Elad Gil Foundry Group Dave Morin

Zynga, Harmonix,ReturnPath, Admeld,

Sendgrid Path

Former VP Twitter,Google

I N V E S TO R

Airbnb, Square, Pinterest

F O U N D E RColor Genomics, Mixer Labs

T E A M

I N V E S TO R I N V E S TO R

Nest, Dropbox, Slack

F O U N D E R

T E A M

Facebook Platform & ConnectFG AngelsS Y N D I C AT E


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165 active syndicates

Paige Craig Scott & CyanBanister Tom Fallows

Uber, Zappos, Thumbtack Wanelo, SpoonRocketLyft, Twitter, PostmatesI N V E S TO 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 S TO R

B O A R D M E M B E R

Head of Uber Global Expansion

Mercantila, Google Express

I N V E S TO R

F O U N D E R

T E A M

US Marine Corps

Ironport, TopsyF O U N D E R


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4,400 syndicate investors—many founders

Joshua SchachterFounder ofdel.icio.us

Steve CaseCo-founder of AOL

Othman LarakiCo-founder of Mixer Labs

Stephan PaternotCo-founder oftheglobe.com

Jared KopfFounder of AdRoll

Ben DavenportCo-founder of

Beluga


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Over 700 startups funded

Tim FerrissS Y N D I C AT E D B Y

$748KR A I S E D O N L I N E


Rick MariniS Y N D I C AT E D B Y



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Over 700 startups funded

Naval RavikantS Y N D I C AT E D B Y



Jenny RookeS Y N D I C AT E D B Y



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Follow-on rounds from topVCs

$141K

$65M

F O L L O W- O N S

Bessemer

R A I S E D O N L I N E

I N C L U D I N G

$748K

$60M

F O L L O W- O N S

Kleiner Perkins


I N C L U D I N G

$150K

$57M

F O L L O W- O N S

Accel Partners


I N C L U D I N G


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Follow-on rounds from topVCs

$163K

$31M

F O L L O W- O N S

Bessemer


I N C L U D I N G

$225K

$30M

F O L L O W- O N S

Kleiner Perkins


I N C L U D I N G

$500K

$20M

F O L L O W- O N S

Redpoint


I N C L U D I N G


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“Venture” for small deals

I credit @AngelList for giving me theplatform from being an angel to a

fund overnight that has brand andreputation. Firms are noticing.

Sumon Sadhu@sharpshoot · Feb 2015


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@tferriss' syndicate is a built-innetwork of advocates, acting like a

megaphone on our behalf.

Shyp@shyp · Dec 2014

Company Benefits


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Can you love a company? @AngelList just let me make a pro-rata

investment in a deal in the same 45seconds as initial. Seriously awesome!

John Danner@jwdanner · Feb 2015

Investor benefits

angellist presentation kevin laws 11.19.15

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