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In London, 28-year-old Ivy Mukherjee, a product designer, and Shashwat Shukla, 30, a private equity investor, started investing in startups this year to learn new skills and network with others in the industry. They said they were cautious with checks for $2,000 to $5,000 knowing they could lose everything.
“If we can get our money back, that’s enough for us,” said Mr. Shukla.
The new angels have the potential to transform a stubbornly clubbed venture capital industry. Elizabeth Yin, general partner at Hustle Fund, a venture capital firm, said they can also put pressure on bad actors in the industry who have survived things ranging from rudeness to sexual harassment. The firm also formed the Angel Squad and shared deals with its members.
“More competition brings better behavior,” Ms. Yin said. (In addition to investing in startups, the Hustle Fund also sells mugs that read “Be Nice, Earn Billions.”)
The angel boom, in turn, spawned a corporate mini-boom aimed at streamlining the investment process. Allocations, the start-up run by Mr. Advani, offers group deals. Assure, another start-up, helps with administrative work. Others, including Party Round and Sign and Wire, help angels with money transfers or work with start-ups to raise money from large investor groups.
angel listIt has steadily expanded its menu of options, including revolving funds (for people to subscribe to an angel investor’s deals) and roll-up tools (for startups to consolidate lots of small checks), which has been enabling these types of deals for over a decade. . . Mr. Kohli said his company runs a “funds factory” that compresses a month’s worth of legal paperwork and wire transfers at the push of a button.
Still, it takes time to reach the next hot tech startup as a total stranger.
Ashley Flucas, 35, a real estate attorney in Palm Beach County, Fla., started investing in startups three years ago. He said it’s a chance to create wealth for generations, something that underrepresented people often don’t have access to.
“The same people who make deals with each other and share wealth, and how can I allow that?” I think. said Mrs. Flucas, the black one.
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