AngelList now valued at $4.1 billion
- Dan Primack, author of Axios Pro Rata
Illustration: Aïda Amer/Axios
AngelList, a venture fundraising platform, raised $100 million at a $4 billion pre-money valuation. Tiger Global led, and was joined by insider Accomplice.
Why it matters: AngelList is one of the few organizations to successfully disrupt traditional venture capital, and can lay claim to around 200 "unicorns" that have raised on its platform. It also hasn't announced an outside investment in around seven years.
Details: This is a common stock deal without a board seat for Tiger, per a source familiar with the terms. The valuation only applies to the flagship venture piece of AngelList, not for its related efforts like CoinList, Product Hunt, Talent or Republic.
- AngelList also says it's opening a community round for GPs who've invested on the platform within the past 12 months
The bottom line: "For Tiger Global, betting on AngelList is akin to betting on an early-stage index fund," Axios' Lucinda Shen reports, who will have more details later Wednesday on the Axios Pro Fintech Deals newsletter.