All posts by Nigel Koh

AngelList Partners with Chinese Private Equity Firm to Power CSC Upshot Seed Fund of $400M

AngelList, the Silicon Valley based online platform which allows startups to raise capital from accredited investors, is now partnering with China’s third-largest private equity firm, China Science & Merchants Investment Management Group, to power a $400 M seed fund called CSC Upshot, reports Techcrunch.

This will make CSC Upshot one of the largest seed funds to have existed to fund companies at such an early stage. Previously, AngelList had raised $205 M in investments  from all sources, including $43 million from institutional investors. That amount has been invested in about 650 startups which include Uber and Twitter.

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AngelList to Power the World’s Largest Seed Fund with $400M from Chinese Private Equity Firm

It’s heady amounts of money for heady times.

AngelList, the investing platform that has scaled to support $205 million in investments across 650 startups including Uber, is aiming even bigger.

One of China’s largest private equity firms is now tapping the platform and the know-how of its angels and syndicates to power a $400 million seed fund called CSC Upshot. The fund will be run by the country’s third-largest private equity firm, China Science & Merchants Investment Management Group, which has $12 billion under management.

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Announcing $400M for Startups on AngelList

We have a few announcements for you today.

First, CSC Group has committed to invest $400M in startups on AngelList. The first $100M will be deployed through a new VC fund named CSC Upshot.

The CSC Upshot fund will primarily invest in syndicates led by experienced angels and VCs. It will help syndicates make larger, faster investments in early-stage startups and their follow-on rounds. It will also help promising new syndicates make investments while they’re building a backing from individual investors.

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