Jan 16, 2018

AngelList brings syndicates to India

Co-Founder and CEO of AngelList Naval Ravikant. Photo: Noam Galai/Getty Images

AngelList today announced that it is launching its deal syndicates platform in India, after having first teased the plans in 2016.

Why it matters: This could rapidly expand the number of Indian startups able to raise venture capital funding.

India is now the fourth country where AngelList now offers syndicates, a platform through which individuals can raise money that is then invested on a deal-by-deal basis into local startups.

It has been a growing market for AngelList, including as its second biggest for hiring services with nearly 5,900 startups participating. India also has more than 6,000 registered investors interested in Indian startups (834 of whom are residents), and almost 31,500 registered local startups.

The country's requirements for angel investors are similar to those in the U.S., asking that participants have net tangible assets of at least INR 2 crore (excluding value of their residence), plus a certain level of investing, entrepreneurial, or managerial experience.

Check out AngelList's FAQ for more on the Indian syndicates' fine print.

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.