AngelList
AngelList is a venture capital infrastructure platform providing fund administration, investor management, and LP access software to fund managers and investors, supporting over $171 billion in assets across 25,000+ investment vehicles with proprietary AI capabilities.
- Company typePrivate
- Founded2010
- HeadquartersSan Francisco, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What AngelList does
AngelList operates as a comprehensive venture capital infrastructure platform providing fund administration, investor management, and LP access software to fund managers, limited partners, accredited investors, and—most recently—non-accredited retail investors. Founded in 2010 by Naval Ravikant, the company evolved from a syndicate marketplace into backend software serving the VC ecosystem after a 2022 restructuring triggered by a nearly 80% revenue decline during the US interest-rate spike. The platform supports over $171 billion in assets across approximately 25,000 investment vehicles and is involved in more than half of all top-tier US VC deals, with 13,000+ startups invested and 300+ unicorns in the portfolio. Legal entity is AL Advisors Management Inc., with Platform Advisor, LLC registered as an SEC exempt reporting advisor.
The company's core technology stack combines Go and Ruby on Rails with proprietary components, including the Zaxcel open-source domain-specific language for generating auditable Excel financial statements and the AngelList Intelligence AI agent that synthesizes information across Slack, Front, CRM, and legal documents. Product offerings span Venture Funds, SPVs, Scout Funds, and Rolling Funds for fund administration; Digital Subscriptions and Data Room for investor management; and sub-brands Meridian (wealth platform for accredited investors), Rollups (equity management), and USVC (registered venture fund with $500 minimum for non-accredited retail). The Zaxcel DSL and document intelligence pipeline for SAFEs, convertible notes, and share purchase agreements represent differentiated technical capabilities that enable 10 tax professionals to issue 300,000 K-1s annually.
AngelList generates revenue through subscription-based platform fees on fund administration, 1% annual management fees on USVC fund assets with no carried interest, and managed services through India operations managing $265M across 800+ startups. The hybrid go-to-market combines enterprise direct sales to fund managers, self-serve product-led growth via Meridian, free tier Data Room tools for emerging managers, and a channel partnership with Bitwave for digital asset capabilities. Following the 2022 pivot, the company achieved profitability, scaled headcount from 140 to 330+ employees, and is now executing on multiple product launches including USVC, Meridian, and AngelList Intelligence while pursuing geographic expansion across the US, India, and Singapore.
AngelList firmographics
Firmographics- Name
- AngelList
- Legal name
- AL Advisors Management Inc.
- Website
- https://angellist.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- AngelList is a venture capital infrastructure platform providing fund administration, investor management, and LP access software to fund managers and investors, supporting over $171 billion in assets across 25,000+ investment vehicles with proprietary AI capabilities.
- Ownership category
- akta.pro rank
AngelList industry classification
Industry- Product category
- Fund Administration Software
- NAICS
- Portfolio Management and Investment Advice (52394), Software Publishers (5132), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
- akta.pro secondary industry
- Agents & Autonomous Workflows (Tool Use, Planning, Multi-Agent) (HDAAACAF)
Keywords
Where AngelList is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
AngelList business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Fund Administration Software: Platform fees for venture funds, rolling funds, SPVs, and scout funds using AngelList's fund management software suite including back-office operations, investor management, and compliance.
- Management Fees (USVC): 1% annual management fee charged on USVC venture fund assets with no carried interest, providing access to AI companies for retail investors.
- India Operations: AngelList India manages $265M of assets across 800+ startups through platform administration and fund management services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free tier: 10 Data Rooms at 50 GB per room |
| Subscription | Annual | USVC Fund: 1% annual management fee, no carry |
| Subscription | Annual | Enterprise Data Room: Custom pricing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
AngelList product offering
Product offeringCore offering
AngelList provides integrated fund administration software and investor management tooling that lets venture capital fund managers raise capital, form and operate funds (venture, rolling, scout, SPVs), manage LP relationships, share documents, and automate back-office financial and tax workflows from a single platform. It also operates the AngelList Capital Network that connects fund managers with investors, plus Meridian for accredited investor access to private markets and USVC for non-accredited retail participation in private AI companies.
Product overview
AngelList provides a comprehensive venture capital infrastructure platform with multiple integrated products: Venture Funds serves as the core fund administration platform for raising capital and managing portfolios; SPVs enable deal-by-deal investments through the AngelList Capital Network; Scout Funds supports scout program operations; Rolling Funds offer subscription-based fund structures; Digital Subscriptions and Data Room are add-on modules for investor management and secure document sharing. Meridian is a sub-brand wealth platform for accredited investors. Full Service Fund Management bundles 50+ services for fund operations. The platform also includes analytical tools like the VC Fund Performance Calculator and RUV Calculator, and USVC is a retail-accessible fund product. AngelList supports over $171B in assets across approximately 25,000 funds and has powered investments into over 13,000 startups.
Differentiator
Problem solved
Functional benefit
Brands
- Meridian: AngelList's wealth platform for private markets giving accredited investors access to startup SPVs and venture funds
- Rollups
- USVC
- Data Room
- Digital Subscriptions
Products and services
- Venture Funds Full-service fund administration platform enabling venture fund managers to raise capital, close deals, and manage portfolios from a single integrated system.
- SPVs (Special Purpose Vehicles) Deal-by-deal private investment vehicles that allow fund managers to raise capital for individual investments using the AngelList Capital Network.
Quantifiable outcome
- 65% of customer queries assisted by AI agent, enabling minute-scale response times vs hours of manual research
- +4 more outcomes
Companies that use AngelList
Customer profileNamed customers5 records
Segments6 records
Ideal customer profiles5 records
AngelList technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability7 records
Feature5 records
AngelList partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship, minor and core.
- SuperstateflagshipCoinList (AngelList's sister company) partnered with Superstate to offer tokenized equities and IPOs to its 12M+ global users, enabling direct on-chain ownership without wrappers or intermediaries.
- CoinListflagshipCoinList is AngelList's sister crypto platform with 12M+ users worldwide. Partnership enables tokenized equity offerings and IPOs through Superstate collaboration.
- Kingscrowd CapitalminorKingscrowd's Profitability Fund uses AngelList for fund administration and management, with $10,000 minimum investment targeting accredited investors.
- BoardyminorAI-powered networking platform partnered with AngelList to launch a venture fund, reportedly attracting $170M in expressions of interest within 24 hours of announcement.
- BitwavecoreStrategic partnership where Bitwave provides real-time digital asset tracking, automated tax and accounting workflows, and regulatory compliance (GAAP, IFRS) through platform integration for AngelList's venture fund clients.
Scale indicators17 records
Recent moves8 records
Expansion highlights8 records
AngelList competitors and assessment
Company assessmentDirect peers
- Carta: Carta is the leading cap-table and equity management platform for private companies and funds. It directly competes with AngelList's Rollups product and increasingly encroaches on fund administration and LP management — making it AngelList's most direct competitor across multiple product lines.
- Juniper Square: Juniper Square provides investor management, fund administration, and CRM software for private equity and venture capital fund managers. It directly overlaps with AngelList's fund administration, Digital Subscriptions, and Data Room offerings for the VC GP segment.
- iCapital Network: iCapital is a fintech platform that provides wealth managers and accredited investors access to private market funds, including venture and private equity. It competes with AngelList's Meridian wealth platform and USVC in democratizing private-market access for high-net-worth and advisor-served clients.
- Republic: Republic operates an investment platform allowing retail and accredited investors to invest in startups, SPVs, and crypto offerings. It directly competes with AngelList's retail-accessible offerings (USVC, Meridian) and AngelList Capital Network SPVs.
- Wefunder: Wefunder is a Regulation Crowdfunding platform enabling retail investors to invest in startups with small minimums. It is comparable to AngelList's USVC and the broader retail-access thesis of expanding private-market access beyond accredited investors.
- Allvue Systems: Allvue provides investment management software for alternative asset managers including fund accounting, investor reporting, and CRM. It overlaps with AngelList's fund administration platform at the larger fund end of the market and is a potential competitor for enterprise VC and PE customers.
Broad incumbents
- Addepar: Addepar is a wealth-management technology platform serving large RIAs, family offices, and institutional investors with portfolio analytics and reporting. While broader in scope, it is comparable through the institutional LP/capital allocator workflows that feed into AngelList's LP base.
Others
- CoinList: CoinList is AngelList's sister company focused on crypto token sales, staking, and digital-asset offerings for 12M+ users. It is comparable as an adjacent capital-formation infrastructure entity within the broader AngelList ecosystem and through tokenized equity offerings with Superstate.
Emerging players
- Galaxy Digital: Galaxy is both an AngelList customer (using Digital Subscriptions) and a digital-asset financial services firm. It is comparable through its institutional digital-asset management and fund services, especially relevant given AngelList's Bitwave partnership for digital-asset fund reporting.
- EquityMultiple: EquityMultiple is an online platform enabling accredited investors to participate in private real-estate and debt deals, with fund administration infrastructure. While more real-estate focused, it is comparable as a private-market access and fund-administration peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
AngelList social profiles
Digital presenceAngelList compliance and trust
Trust signalCompliance2 records
AngelList financial estimates
Financial estimateRevenue estimate
Valuation estimate
AngelList leadership team
Management profileNumber of profiles
Profiles10 records
AngelList subsidiaries and ownership
Company hierarchySubsidiaries2 records
AngelList funding detail
Funding detailFunding overview
Funding rounds11 records
Investors55 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AngelList M&A and investment
M&A and investmentM&A6 records
Investments193 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AngelList
What does AngelList do?
AngelList provides integrated fund administration software and investor management tooling that lets venture capital fund managers raise capital, form and operate funds (venture, rolling, scout, SPVs), manage LP relationships, share documents, and automate back-office financial and tax workflows from a single platform. It also operates the AngelList Capital Network that connects fund managers with investors, plus Meridian for accredited investor access to private markets and USVC for non-accredited retail participation in private AI companies.
Is AngelList a public or private company?
AngelList is a private company. It is classified as venture growth investor backed and is currently operating.
When was AngelList founded?
AngelList was founded in 2010. It employs 101 to 250 people.
Where is AngelList based?
AngelList is headquartered in San Francisco, United States, in the North America region.
How does AngelList make money?
Three revenue lines are on record. Fund Administration Software is the primary driver. The others are management Fees (USVC) and india Operations.
Who are AngelList's main competitors?
Direct peers on record are Carta, Juniper Square, iCapital Network, Republic, Wefunder and Allvue Systems. Addepar is listed as a broad incumbent. CoinList is listed as an others. Emerging players are Galaxy Digital and EquityMultiple.
Does AngelList have an API?
Yes. AngelList Data Room includes an API that allows users to pull data seamlessly into their CRM or other systems. The API enables integrations with external systems for data synchronization and workflow automation. Developer documentation is at mailto:[email protected].
What industry is AngelList in?
AngelList's product category is Fund Administration Software. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds, with a secondary code of HDAAACAF, Agents & Autonomous Workflows (Tool Use, Planning, Multi-Agent). Its NAICS code is 52394 and its SIC code is 6282.