Startup City Magazine

AngelList Raises $12 Million

Angel List, a startup which was established last year, has raised $12 Million with the help of startups. The company has a worth of $12.3 Million as reported by Liz Gannes of All things D. Angel List CEO Naval Ravikant says “A lot of the VCs still cling to the idea of proprietary deal flow,”

The previous number in hte balance sheet was $12 Milllion and currently it reflects $12.3 Million This was launched last week to raise money for startups and provide them with tools which are standardized in nature.These tools are used already for investments worth of 6, 00,000. Preently the primary area of for focus for AngelList is recruiting more people than to raise more funds. It would be probably be triple the volume.

Adding to it, AngelList also helps entrepreneurs who have given an attempt and failed while establishing startups. Angel List helps out entrepreneurs who try and fail in establishing a startup.

Ravikant said that he couldn’t elaborate on the fundraising process, but that he expects to “be in a position to talk about it more when the ban on general solicitation ends.”

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