500 Startups, the Silicon Valley accelerator with a penchant for emerging markets, has opened fundraising for its Fund II through AngelList, the social network of sorts for startups.
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Back in December 2012, AngelList launched a partnership with Secondmarket, the private market place for buying and selling alternative assets, to allow smaller accredited investors to invest in startups. The minimum investment amount was set at US$1 000 and the service reportedly went on to raise US$12 million within 30 days of going live.
500 Startups was the first incubator to use AngelList back in January to accept applications for its Spring 2013 batch. The list grew to include 18 incubators including TechStars, MuckerLab and Mozilla. includes.
500 startups has a special relationship with AngelList. The accelerator’s founding partner Dave McClure is a big AngelList fan and is rumoured to use the service for scouting up-and-coming startups.
With 500 startups now accepting investment through AngelList, it’s only a matter of time before other incubators come knocking.
Source: TNW | Image credit: Stockmonkeys.com
