AngelList receives the largest ever amount to invest in startups at an early stage

    AngelList is a crowdfunding platform that helps startups find potential investors. Now the platform has another $ 400 million that can be invested in startups.

    The funds were invested by CSC Global, an American division of the Chinese China Science and Merchants Investment Management Group ( CSC Group ). According to CSC Global President Veronica Wu, the CSC Group manages $ 12 billion in funds.

    She also adds that the CSC Group plans to become the world's largest private equity company. Wu says investment in AngelList is just the beginning.Further, CSC Global plans to invest large amounts in companies at all stages - from seed to pre-IPO.

    Until now, in the history of venture investment, no one has ever allocated such a large amount of funds to finance projects at an early stage. Moreover, this is the largest investment by a Chinese private company in an American fund. According to AngelList founder Nawal Ravikant, more than 1,000 startups can be invested for $ 400 billion at an early stage, writes The Wall Street Journal.

    Previously, AngelList had $ 205 million.

    Startups on the platform are rated by 165 different business angels. Each of them oversees a group of investors. Therefore, it will depend on the decision of one business angel whether the startup will receive investments from the entire group.

    But now, investors from CSC can move from one such group to another and decide on investing startups on their own. Thus, startups will be able to quickly receive funds, and AngelList will be able to invest in even more young projects.

    The founder of AngelList said that he will put the amount received into the "business" in parts. This year, startups in the early stages will receive $ 20 million. In each subsequent year, this amount will be $ 50 million.

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