AngelList debuts service to manage startups' secondary stock sales

Details: As with its other services, AngelList provides software and all the legal management on the back end to the startup.

• AngelList also packages all of the new shareholders into one single entity on the cap table to avoid making it messier.
• Startups can set these up to be recurring as well, if they want to do regular liquidity events for early shareholders — every 12 or 18 months, for example.
• AngelList generates revenue by charging the companies for executing transactions.

Between the lines: "What started to happen was that some of these late-stage companies wanted the [VC fund] managers on our platform involved with their company but they weren't investors already," Avlok Kohli, CEO of AngelList's venture-focused business, tells Axios of the new service's origin.

• While AngelList can help find some additional buyers to fill out a transaction if the startups want, it doesn't see itself as a marketplace for startup stock. AngelList intends that customers for this service already have buyers in mind.