U.S. incubator and investor firm 500 Startups is accepting investments for its Fund II via the seed funding network AngelList. The new development is a continuation of earlier ties between the two firms.
Prior to this development, 500 Startups adopted AngelLisat as the sole platform to receive applications for its Spring 2013 batch. That means the relationship is not new between the two entities. 500 Startups’ founding partner Dave McClure has extensively used AngelList to spot and verify promising new startups. Now, the relationship has deepened.
TNW has published a screenshot of an email sent to its writer Robin Wauters saying that 500 Startups has n=started to receive investments for its Fund II through AngelList’s online investment tool. A further inspection of 500 Startups’ AngelList profile “shows that there is an option to invest for those who are on AngelList with investor status.”
500 Startups’ McClure has denied to reveal more details on this regard due to SEC regulations.
Source: TNW
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I can see how, in these times of looming economic desaster, McLure would rather invest other people’s money, rather than his own funds…
What’s new?