A fun innovation in financial engineering I saw recently and thought was worth sharing: I am an extremely tiny angel investor, which means I periodically send small checks to startups in return for an equity investment. This has historically been very toilsome for all parties.
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There are probably also some benefits on the backend, too. A startup I invested in back in 2012 exited. Yay! And I got several hundred pages of documents to review as a result of it. Absence of yay. The ideal UX here is "I trust you. There's a number. Pay me; I tell accountant"
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AngelList gets to have the operational teams and software which figure that out for the SPV, which centralizes thousands of otherwise pairwise conversations happening with lawyers and accountants, and then a piece of software spits out a) money and b) tax forms.
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End of conversation
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On a related subject, is there an equivalent/ comparable service to http://seedlegals.com/ available to angels in SF?
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But isn’t the real win here that, i’m assuming, the SPV has standardized terms for its angel investors? And couldn’t the startup do the same thing -standardized contracts- without an intermediary?
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