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AngelList just came up with a new way for startup founders to easily fundraise from multiple investors

Published by Business Insider on Wed, 31 Mar 2021


<p><img src="https://static6.businessinsider.com/image/5e8b4a2d92e8ba49857e89ea-2400/naval ravikant.jpg" border="0" alt="naval ravikant" data-mce-source="Noam Galai/Getty Images" data-mce-caption="Cofounder and CEO of AngelList Naval Ravikant."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Venture capital and angel-backed startups platform AngelList has come up with yet another new way for founders to raise money.&nbsp;</p><p>On Tuesday, the platform announced its "<a href="https://www.angellist.com/ruv">Roll Up Vehicles</a>" model, which allows accredited angel investors to wire funds directly to startups all through one single link via AngelList.</p><p>The new model only allows up to 250 angels per company, all with the same line on the ownership "cap table," meaning every investor gets the same rights, and the startup has an easier way to manage all of its "small-check" investors.&nbsp;</p><p>Over 25 startups have already been using an AngelList RUV in beta, including Secureframe, MainStreet, and Italic. Secureframe used it for its recent <a href="https://techcrunch.com/2021/03/18/secureframe-series-a-cybersecurity-compliance/">$18 million Series A</a> which was led by Kleiner Perkins and also included Gradient Ventures and Base10 Partners.</p><p>"During our fundraise, we had early customers and value-add investors that wanted to participate in our round," Secureframe founder and CEO Shrav Mehta said in the <a href="https://www.angellist.com/blog/introducing-roll-up-vehicles">announcement</a>. "Managing dozens of individual investors would have substantially increased operational overhead for us. AngelList took care of all the paperwork and was incredibly communicative throughout the process."</p><p>A one-time $8,000 fee is required by each founded company joining the RUV platform to cover the filings, tax documents and management. But the fee is aimed at saving startups money in the long term, rather than dealing with individual investment check admin costs.</p><p>The new model from AngelList comes as founders have increasingly more options to fundraise than seen previously.</p><p>Last month, the SEC increased the limit of money companies could crowdfund to $5 million from $1.07 million. The change allowed more startup founders the ability to open up their fundraising efforts to non-accredited investors with investments for as little as $100.</p><p>"I believe the majority of people that could be a good investor just aren't good fundraisers," angel investor Sahil Lavingia said to <a href="https://www.businessinsider.com/gumroad-sahil-lavingia-opens-5m-crowdfunding-round-new-sec-rule-2021-3">Insider last month</a>. "It's not easy to get those relationships."</p><p>AngelList announced a "<a href="https://angel.co/blog/rolling-venture-fund-launch">Rolling Fund</a>" model last year, which allows investors to "subscribe" to a fund on a quarterly basis while allowing more people the chance to invest.</p><p>&nbsp;</p><p><a href="https://www.businessinsider.com/angellist-allows-founders-to-streamline-fundraising-2021-3#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/electric-planes-future-of-aviation-problems-regulations-2020-3">Why electric planes haven't taken off yet</a></p>
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