Inside the Platform Powering +$171B in Private Capital, with AngelList CEO Avlok Kohli

 Lex chats with Avlok Kohli - the CEO of AngelList, about
the company's significant evolution. Initially a platform for
startups to connect with venture capitalists, AngelList has
transformed into a comprehensive fintech entity encompassing
private equity and cryptocurrency. Avlok discusses the strategic
pivots, including the introduction of syndicates and rolling
funds, that have redefined the company's business model. The
episode also explores the broader implications of crowdfunding
and the unique challenges in the crypto space, offering a deep
dive into AngelList's impact on the financial services industry.


 


Notable discussion points:


 


1. AngelList’s Second Founding: Reinvention as a Fintech
Platform: Since 2019, AngelList has transformed from a mixed-use
startup platform into a focused fintech infrastructure business
for fund managers. Avlok Kohli spun out the syndicates arm and
built a scalable product offering that includes SPVs, venture
funds, and innovative structures like Rolling Funds and Roll Up
Vehicles. This pivot catalyzed explosive growth—from ~$1B in AUM
in 2019 to $171B+ today—by enabling fund creation and deployment
at scale.


 


2. Product Innovation as a Strategic Advantage: Instead of
competing with well-capitalized incumbents like Carta on sales
and marketing, AngelList focused on building category-defining
products. The launch of Rolling Funds—allowing fund managers to
raise publicly and continuously—was a breakout moment. It created
viral word-of-mouth growth and redefined how emerging fund
managers could access capital, illustrating the principle: “You
can’t win by playing someone else’s game.”


 


3. AI and the Future of Private Markets Infrastructure: AngelList
is embedding AI across three strategic layers: (1) Back-office
automation, replacing manual workflows, (2) Customer service
enhancement, enabling agents to respond to LPs with real-time
data, and (3) Data reasoning products, like Fin, which analyzes
anonymized fund and secondary data to deliver actionable private
market insightsThis positions AngelList not only as an admin
platform but as a data intelligence layer over the private
capital markets.


 


MENTIONED IN THE CONVERSATION


 


Topics: Fintech, Web3, Venture, VC, Venture capital, private
markets, fundraising, crowdfunding, crypto, web3, AI, Angellist,
Coinlist, Carta, Gumroad


 


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Twitter: https://twitter.com/LexSokolin


 


TIMESTAMPS


 


1’09: AngelList Reimagined: How Avlok Kohli Transformed a Startup
Directory into a Fintech Powerhouse


 


6’43: Syndicates vs. Crowdfunding: Solving the Signal Problem in
Startup Investing


 


11’43: From Community to Capital: Rebuilding AngelList Through
Business Model Reinvention and Rolling Fund Innovation


 


16’49: Playing a Different Game: How AngelList Scaled by
Redefining the Category Through Product Innovation


 


21’59: Creating the Category: How Rolling Funds Sparked a
Movement and Redefined Venture Fundraising


 


28’51: From $1 Billion to $125 Billion: How AngelList Scaled by
Saying No Before Saying Yes


 


32’56: The Liquidity Mirage: Why Private Market Access Remains
Elusive for Most Investors


 


37’57: AI Meets Private Markets: Automating Back Offices,
Enhancing Customer Touchpoints, and Powering Intelligent Fund
Infrastructure


 


42’26: The channels used to connect with Avlok & learn more
about Angellist


 


 


Disclaimer here — this newsletter does not provide investment
advice and represents solely the views and opinions of FINTECH
BLUEPRINT LTD.


Contributors: Lex, Laurence, Matt, Farhad, Mike, Daniella


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