For Fund Managers
Syndicates
Raise privately on a deal-by-deal basis and leverage the AngelList Capital Network to quickly fund your deals. Whether you’re leading one deal or several, AngelList Syndicates are the smartest way to run an SPV.
Get startedIncrease access to capitalRaise more, faster by leveraging the AngelList Access Fund and network of accredited investors.
Earn carryReceive carried interest and adjust what you share per LP per deal.
Grow your networkEstablish yourself as a proven GP and build your network and LP backing.
By the numbers
How AngelList Syndicates work
Focus on your deals, not managing multiple service providers. AngelList handles legal formation, capital calls, tax documents, and everything else you need.
Enter a few pieces of information to create your Syndicate profile and get started
Invite LPs and your investors can close into the SPV electronically
When you're ready to deploy capital, AngelList wires funds directly to the company
Full-service administration
You deal with your deals. We’ll deal with the rest.
AngelList Platform Capital
Raise from professional investors on AngelList
Seamless closes
Investors close into your Syndicate electronically. AngelList takes care of fund formation docs and wires too.
Tax Preparation
We prepare tax returns and K-1 distributions for the lifetime of your investment.
Syndicates
Raise privately on a deal-by-deal basis and leverage the AngelList Capital Network to fund your deals.
Get startedStandard
$8k
Setup fee
State regulatory fees: $2k flat fee
Features
SPV administration
Legal SPV formation
Investor closings
Transaction review & execution
Optional add-on services
FAQ
We recommend leads invest at least 2% of the allocation (or $10K, whichever is lower) to demonstrate skin-in-the-game to their LPs. However, you are only required to invest $1000. You can invest directly into the syndicate, or you can make an investment alongside (i.e. separate from) the syndicate.
If you'd like to raise money from Canadian LPs, you must invest at least $10,000 or 2% of the allocation (whichever is lower).
AngelList Platform LPs are LPs that find your syndicate via AngelList, as opposed to LPs that you know or invite to your syndicate directly. LPs can find your syndicate via their syndicate browse/search feature, deals via direct deals, or PCN deal invites.
- If your deal qualifies, we'll send out invites to our PCN (Private Capital Network).
- If your deal qualifies for PCN, you're also enabled to send direct deal invites, if you choose.
- If LPs invest in your deal after receiving an invite via PCN or direct deal invites, they are AngelList Platform LPs.
The setup fee for most deals is $8k plus a flat state regulatory fee of $2k. The setup fee covers formation costs and our back office team, who handle all the administrative aspects of your syndicate for its lifetime. Each deal you run is set up as a separate vehicle, so each deal incurs this cost.
- SPV fees are distributed across all LPs who invest in a given deal and prorated based on their investment amount.
- For pro-rata / follow-on deals, where the previous deal was also run via AngelList, the setup costs are $5k, with a flat blue sky fee of $2k.
- Minimum term commitments
- Fund distributions
For more on SPV pricing, read our Help Center article.
To invite LPs to your deal, visit the Investors tab on the deal dashboard for the deal in question. Once there, you'll see a section near the top labeled "Invite." There, you can filter for the LPs you'd like to invite, write a note, and send.
If your deal qualifies for PCN, you're also eligible for Direct Deal Invites. Direct deal invites allow you to search through the AngelList LP network of qualified purchasers and clients (high net-worth individuals), and optionally send up to 1000 invites to your deal.
Each time you setup a deal, you can decide whether you'd like it to be private to your LP network. If you do, your deal will only be viewable to the LPs you directly invite or those who back your syndicate.
If your deal is not private, it is eligible to be sent to our Private Capital Network (PCN). Every deal is reviewed by our Investment Committee, and if it's deemed high quality enough, we will send it out to our PCN.