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AngelList, the renowned platform for startups and investors, broadens its horizons by venturing into the private equity space through the acquisition of fintech startup Nova.

News | Jul 31, 2023

Unsplash m. private equity - AngelList, the renowned platform for startups and investors, broadens its horizons by venturing into the private equity space through the acquisition of fintech startup Nova.

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AngelList, the renowned platform for startups and investors, broadens its horizons by venturing into the private equity space through the acquisition of fintech startup Nova.

Acquisition of Nova

  • AngelList has acquired Nova, a Y Combinator-backed fintech startup that has developed investor management software for institutional private funds. This acquisition marks AngelList's expansion into the private equity sector, a move that CEO Avlok Kohli describes as a logical and natural progression.
  • Institutional investors, who hold 80% of Nova Ltd. (NASDAQ:NVMI), saw a rewarding 3.8% increase in the stock.
  • Nova has over 10,000 investors who have invested billions of dollars through the system in the past year. The startup will continue to operate as a business unit within AngelList, contributing to the expansion of the company into the larger private markets industry. Nova's digital subscriptions offering has been rebranded to AngelList Transact.

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AngelList's Growth

  • AngelList has seen significant growth, with assets supported for investors increasing by 50% to $15 billion year-over-year in 2022.
  • The number of startups funded on AngelList increased by 21% to 8,300, and the organization also saw a 19% increase in fund managers in 2022 versus 2021.

Conclusion

  • The acquisition of Nova is a strategic move by AngelList to diversify its offerings and tap into the private equity market. This expansion not only broadens AngelList's scope but also enhances its ability to serve startups throughout their lifecycle. With Nova's robust investor management software, AngelList is poised to make a significant impact in the private equity space.

NCFA Jan 2018 resize - AngelList, the renowned platform for startups and investors, broadens its horizons by venturing into the private equity space through the acquisition of fintech startup Nova.The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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