The US-based online platform which supports startups with early-stage funding and recruitment AngelList has launched Syndicate in India.
Syndicates are private single-deal investment vehicles that let you invest in startups along with more angels.
Similar to a VC fund, syndicates provide experienced investors the opportunity to earn carried interest on their allocation, and the ability to write bigger checks by pooling capital from dozens of backers in the ecosystem.
So far, over 1,800 startups have raised more than $700 million through Syndicates on the AngelList platform, receiving more than $6 billion in follow-on funding.
Founded by Naval Ravikant in 2010, AngelList has been connecting startups with investors as early as 2010 and launched online syndicates in 2013. AngelList has been making efforts to launch its Syndicate from August 2016.
“As part of this launch, we’ve gathered the support of experienced entrepreneurs and investors in India like Kunal Shah, Ash Lilani, and others. Approved backers will get access to syndicates from great investors like Sandeep Tandon, Shalini Prakash, K-Start, and others,” mentions company blog post.
So far, AngelList has supported investments into Indian startups such as ClearTax, DocTalk, and Squad. “With this launch, we’re excited to enable more Indian startups to get funded, and for more investors in the ecosystem to get access to deals,” adds the blog post.
Ramping up its India operation, Angellist had hired Utsav Somani as an advisor to AngelList in August 2016.
Besides Syndicates, AngelList also helps startups to hire talent through its jobs platform. It also lists companies, startups, salaries, valuations, alumni networks and incubators among others.
At present, there are a couple of online deal discovery and syndication platforms such as LetsVenture and Tracxn are operational in India. Of late, Tracxn syndicate seems not to be much activity in facilitating startup deals.