Good morning 👋
AngelList will tell you where the future of venture is heading; you just have to listen. So that’s what we did.
We’re breaking down everything their CEO said in his latest interview, giving you the summary, and letting you fill in the gaps on where you think the venture world is heading.
Let’s get into it.
ICYMI: In lieu of spending dollars on paid ads … we’re giving away a pair of Airpods Pro 2 to one lucky reader 🎧
Whoever refers the most new subscribers this quarter (ending June 30) will win a brand new pair of Airpods on us.
Today’s highlights
What AngelList is building
What you’re telling LPs when you raise your fund size
New fund I’s are popping up again
How to get free AirPods on us
TOP
What’s AngelList building next? 🔮
We love listening to what is going on under the hood at AngelList because it gives a glimpse into the future.
AngelList used to be a sleeping giant, but now they come out with new products every quarter.
Last week, their CEO (Avlok Kohli) came onto TBPN to talk about some changes he is building at AngelList.
Here are my notes from that talk:
On creating product velocity: High percentage of AngelList team is ex-founders. This helps them create new product categories and create more product innovation.
“If we didn’t exist, would this product exist?” If it doesn’t, then we should go out and build it.
The problem with fund admin software: the code is the easy part; the law is the hard part.
AI in the business: the biggest opportunity is managing all of the back-office workflows, using agents, and giving the head of the fund more leverage.
Examples of front office workflows they are building: Agent can look at all private market data and ask questions about who left specific companies, creating and editing briefings.
“We want to build a co-GP.” Their mission is to help GPs free up time, find more deals, and make more money.
The bifurcation of venture: Capital flows into venture funds has doubled since last year, but it is more concentrated into a smaller subset of managers.
Likeability and access are such a big part of the venture game. This gives more of a safety net to the GP job as AI wipes out other professions.
“When a founder picks an investor, they are doing it because they believe that person is going to increase their probability of success.” You look for partners when you take on capital, and AI will never be able to replicate everything that a great partner brings to the table.
There is a supply and demand mismatch at the early stages. Everybody wants to invest at the seed, but seed companies don’t actually need that much money.
COMMUNITY
“70% of the deals I sourced last year came through investors I met through this community.”
Here’s a list of things tier-one investors have access to:
Good background knowledge and an understanding of how venture dynamics work
A source of good deal flow so that you see founders first
An elite investor network that you can share notes, deals, and other information with
Mental frameworks to understand company building, scale, and what makes a good vs. great investment
Connections to other high-quality people that become future co-workers or portfolio company employees
Usually that takes 5 years minimum (at least for us), but usually it takes even longer.
That’s why we built this - to speed up the onramp for private investors serious about giving themselves an advantage in the venture game.
2,500 other investors from places like Bessemer, Insight, Accel, and Founders Fund already use it, and we think you should too.
TWEET
HEADLINES
Sydney Thomas’ Symphonic Capital raises $13.5M for inaugural fund (TechCrunch)
11 Tribes Ventures bucks unicorn focus with $46 million fund targeting sustainable growth (Business Journals)
How To Patent Your Tech In The Age Of Alice (Crunchbase)
RECS
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LINKS
💡 50 Game-Changing AI Agent Startup Ideas for 2025: A founder-focused list of AI agents across productivity, sales, healthcare, and more
⚠️ Go Take Risks: The biggest risk is not doing anything
🧩 Forget Traditional Networking—Unlock Connections with the LNC Model: The Strategic Networker explains the “Learn to Network to Connect” model
＄ Are Stablecoins Money’s WhatsApp Moment?: a16z crypto makes the case for stablecoins, relays the SEC’s latest guidance, and reports of the DOJ’s ending “the regulatory weaponization against digital assets.”
🚰 Signs of Strength for Early-Stage VC: Examples that show capital is flowing back into venture
REFER
Win a free pair of Airpods Pro …
Refer more than other readers between now and June 30, and we’ll send you a pair on the house👇
Thanks for reading this far and giving us a little bit of your attention this week.
Feel free to unsubscribe whenever this stops becoming valuable to you.
- Clay
(Founder @ Confluence.VC | GP @ Outlaw)
