![]() ![]() ![]() Since then, Tiger has been winning deals with local startups such as Ontop, Papa, and QuickNode.The Tiger Global partners Scott Shleifer and John Curtius moved to the Miami area earlier this year.Sign up here to get it in your inbox.Account icon An icon in the shape of a person's head and shoulders. Join the tens of thousands of people who subscribe to my newsletter, Startups Weekly. It could be for research and development, new funds or, heck, if they want me to stop guessing and just tell me, they should feel free. So, if the capital isn’t for headcount, what is it for? AngelList has told me that they’ve considered taking on some acquisitions in the past, but talks have never gotten to a serious point. “You get slower as you grow, and that’s actually really tough for a technology company, because if your entire focus is on shipping velocity and shipping great product, growing headcount is actually counter to that.” “I think ultimately, companies that raise typically also increase headcount pretty significantly,” he said. Kohli said he wasn’t compromising, he was just focused on keeping AngelList Venture at a high shipping velocity. He added: “We haven’t had to raise another round of funding, but to be clear, there’s nothing wrong with it: some companies just need capital, sometimes they’re in a race to grow very quickly because it’s a winner take all mentality and the characteristics of that market.”Ī counterpoint to his answer is that raising venture isn’t just used for race purposes, it is also used to pursue new opportunities and acquire competitive intelligence. More than another check, founders need activation energy Kohli said that the company has intentionally kept headcount small so as to limit red tape, and continue to prioritize a high employee to impact ratio. He responded with their thesis on hiring. It also grew to hold $10 billion in assets, up from $3 billion the year prior.Ī question I’ve had for AngelList, for years now, is why not raise venture to meet demand amid growing competition and burgeoning startup formation across the world? It’s the exact question I posed to CEO Avlok Kohli last month when we spoke. Per data provided by the company, the startup supported 11,300 startup investments last year, up from 3,800 the year prior. Plus, it’s adding more capital as it supports more capital. The fresh capital comes after a massive launch spree from the company, which spent the pandemic beefing up its founder-focused services through rolling funds, roll-up vehicles, AngelList Stack and even a new $25 million fund to back startups solely based on hiring velocity. (Update: TechCrunch spoke to AngelList after publishing this story, and changed the lede to reflect that the round was a Series B).ĪngelList Venture is also opening up a community round, raised on the platform itself, for GPs who have made an investment with them over the past year, the blog post stated. TechCrunch has reached out for further comment. The company announced in a blog post today that it has raised a $100 million Series B led by Tiger and Accomplice at a $4 billion valuation. After seven years since its last financing round, AngelList Venture has raised new capital, according to sources familiar with the matter. ![]()
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