After Raising $6.7M For Startups And Winning SEC Approval, AngelList Opens Up Investment Platform To More Companies
techcrunch.com
APRIL 26, 2013
Via SecondMarket, AngelList creates an LLC on the fly into which all the new investors go. Ravikant explains that this feature is designed to encourage more startups to raise funding from legitimate investors via AngelList. That way, startups only have one entity in the cap table, which simplifies documentation and structure.
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