AngelList is hot, which I guess is appropriate for a heavenly investment vehicle.
The dating service for startups and investors announced today that it has helped startups raise over $12.3 million in December alone — a number it is now tracking live on its home page. AngelList said last month that, together with a partnership with SecondMarket, it would be enabling accredited (but not necessarily super-wealthy investors to micro-invest), putting as little as $1000 into startups.
Some might call that the ultimate spray-and-pray strategy, but others would say it’s a great opportunity for smaller investors to safely diversify.
Most of that $12.3 million is a result of an introduction online on AngelList, followed by a subsequent face-to-face meeting or at least live call: a fairly traditional and only slightly technology-augmented process. But a growing number is via AngelList’s brand-new “invest online” feature, which allows investors to make an investment decision — and an actual investment — entirely online.
In other words, Amazon.com for angel investments.
After making the new feature live just last week — which does require significant vetting of participating startups, and the participation of a venture capital firm to lead the investment — AngelList has already helped startups raise $600,000 online.
I remember talking to super-angel Dave McClure at Grow Conference this summer. When I asked him for his favorite startup, he answered AngelList. McClure backed up those strong words by launching 500 Startups’ new application process via AngelList just in September.
Now we know a bit more about why.