AngelList Gains $400M Ally as CPC Upshot to Invest in Startup Syndicates

Chinese private equity firm, China Science Merchants Investment Management Group, has created a new fund to invest $400M on AngelList

Since its Q2 2013 launch, AngelList Syndicate, an equity crowdfunding initiative for accredited investors to invest alongside seasoned professionals, has been used to raise $205 million by 650 early-stage startups. Already an attractive platform for startups to raise funds, AngelList syndicate is also popular among angel investors who can lead larger deals in companies without being overshadowed by venture firms.

With its existing momentum, AngelList is poised for further growth as they have recently announced the addition of $400 million in new capital earmarked to be invested on their platform. The capital is being provided by CSC Upshot, a new venture capital firm created to invest in startups by China Science & Merchants Investment Management Group, a private equity firm with $1o billion in assets under management.

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According to AngelList, CSC Upshot marks the largest ever fund dedicated to investing exclusively in early stage startups. Like other investors on the platform, CSC Upshot will invest alongside syndicate leaders, with leaders allowed to decide whether to include funds from CSC. In their announcement, AngelList stated that the inclusion of CSC Upshot “will help syndicates make larger, faster investments in early-stage startups and their follow-on rounds”.

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