TechCrunch April 16, 2014
AngelList is working on a new project called Maiden Lane. Behind this name is a new experiment in startup investment. Structured as a traditional small VC firm, Maiden Lane will only invest in AngelList syndicates or hand some money to active angels on the platform.
While technically not part of AngelList, Maiden Lane currently has two general partners, AngelList’s chief operating officer Kevin Laws and Dustin Dolginow of Atlas Venture. The fund raised money from traditional limited partners who fund VC firms.
When it comes to Maiden Lane’s deal structure, the firm will not charge any management fee and will take a 30 percent of carried interest, meaning the fund is slightly more competitive for limited partners than a traditional VC firm.
At the other end of the deal, Maiden Lane will invest some of its first fund in syndicated deals that it will hand pick. But the most interesting part is that the firm also plans to give $200,000 to the platform’s top investors, such as Tim Ferriss, Elad Gil, Gil Penchina and more.
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