5/11: V4 Employee led SPV Guide Release + Updates
The Employee’s Guide to Employee Led SPVs has been massively updated. The major changes since the last update:
Showing the employee how to build their AngelList syndicate (pipeline of verified accredited investors) as the first step. This is often the most difficult logistical step in the process and it’s also the most critical since number of syndicate members is functionally a leading indicator for dollars raised. And there seems to be a critical mass (somewhere between 30-50) that makes the rest of the process vastly easier. I’ve been focusing more on streamlining fundraising now that securing allocations from CEOs has been virtually solved in the vast majority of cases.
I added more context to the fundraising process and what an employee should expect in terms of how much work to put in and how many conversations might need to be had.
Multiple employees and ex-employees have closed and/or are in the process of closing >$500k SPVs into their employers (and former employers).
The newly updated guide should enable employees who execute the process to raise millions per SPV even for earliest seed/Series A employers. I believe within 6-12 months it will be possible for employees to *lead* rounds at Seed-Series A companies.