How to Fund a Startup
www.paulgraham.com
APRIL 28, 2010
Some angel investors join together in syndicates. Angels and even VC firms occasionally do this, but they alsoinvest at later stages. The problems are different in the early stages. The fund managers, who are called"general partners," get about 2% of the fund annually as a managementfee, plus about 20% of the funds gains.
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