AngelList, the US-based online platform which supports early-stage funding and startup recruitment, has announced the launch of its 'Syndicates' product in India. 'Syndicates' lets investors team up and pool funds for investments. Syndicates allows investors to create private funds that can be financed by other investors and angels. For example, if an angel wants to invest $400,000 in a startup, they can personally invest $70,000 and ask other investors to invest with them. This investment money is pooled in the private fund and for funding the startup. Founders can control distribution and limit what information is available to which investors. Founders also have the power to discuss how much the syndicate will invest, on what terms, who should be able to invest and when it would like to close. "As part of this launch, we’ve gathered the support of experienced entrepreneurs and investors in India like Kunal Shah, Ash Lilani and others. Approved backers will get access to syndicates from great investors like Sandeep Tandon, Shalini Prakash, K-Start and others." the company said in a blog post. AngelList claims that to date, over 1,800 startups have raised more than $700M through Syndicates, receiving more than $6B in follow-on funding. AngelList launched the Syndicates product in 2013. AngelList's other services Other than Syndicates, AngelList provides a jobs platform for startups to hire. The company also has a product called AngelList Intro that lets startups fill out a private application and get introduced to prospective investors. Additionally, it lists companies, startups, salaries, valuations, alumni networks and incubators etc. Accelerators in…
