Jason Calacanis2 (Photo credit: Wikipedia)

How The AngelList Website Is Shaking Up Tech Startup Funding

The funding process for startup companies is evolving, and it is making traditional venture capitalists worried. A firm called AngelList introduced a new product named AngelList Syndicates. Using AngelList Syndicates, rich people can invest their cash with "angel" investors, who manage the tech startup funding process with the pooled money.

AngelList takes five percent of any profits earned by those investments. The angel investors receive fifteen percent. The rich people will receive the remainder. About a month ago, "angel" and entrepreneur Jason Calacanis shook up the startup industry by revealing that he'd set up an Angel Syndicate, which raised $300,000.00 in only seven days.