In addition to the individual, direct checks that our members write to startups, we have created a Syndicate to enable our group to write larger checks and help founders simplify their cap table.
The 200 OK Syndicate mirrors our thesis about investing in startups building tools, platforms and APIs for developers. We believe that as more people, and more kinds of people, become developers the demand for tools to unlock their creativity and expand the possibilities of what they can do with code is going to drive a whole new generation of developer tools.
Our LP network is made up of folks who all have early-stage operational experience at foundational developer tool startups like Twilio, Sendgrid, Github and Auth0. We know how hard it can be to design tools that developers love, scale up and secure services, keep documentation up-to-date and a host of other unique challenges that developer-centric startups run into every day.
Our mission is to identify early-stage startups working on tools that expand what is possible for developers and to help them bring these products to market.
First, please review this FAQ on Syndicates from AngelList. It will answer most of your questions.
None. AngelList charges a fee per deal and takes 5% carry from LPs who join the Syndicate through their network.
When the managers of the Syndicate decide they want to invest in a deal, they will contact all the members of the Syndicate. At that point you will have the option of investing in the deal (minimum amount is $1k). You can choose to invest or to pass, it's totally up to you.
If the managers succeed in raising the amount needed (say, $100k), the deal closes, the cash is pooled and invested in the startup.
Folks who chose to invest become part owners (based on your % of the total investment) of an SPV that is listed on the cap table of the startup.