The new Jumpstart Our Business Startups (JOBS) Act guidelines have been implemented by AngelList. The platform has been able to raise nearly $1 million in investment commitments on the very first day following the implementation of new rules.
AngelList has already been able to sign up a number of budding startups which are using the platform to raise funds for their respective initiatives. After the recent amends to the JOBS Act, companies were allowed to start raising money along the new regulations from Monday.
On the very first day of this fundraising, AngelList was able to amass investment commitments to the tune of $1 million. The changes to the JOBS Act now allow the companies to seek ‘general solicitation’ and publicize their investment requirements.
This has opened up the market for the startups, allowing them to advertise their products or ideas and seek the investors out. AngelList is leading the pack by having brought together a platform where these startups can cite their requirements and meet prospective investors.
As per the recent figures, nearly 1000 startups are already using AngelList to seek funds publicly. Not only that, a total of 1300 startups have been able to raise some $200 million on AngelList so far. The fresh change of regulations in the JOBS Act has opened even more opportunities for both AngelList and the startups, so that we can expect even bigger funds pouring into new startups in the coming days.