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