Aussie Angels is a platform similar to Angel List that helps syndicates organise and execute startup investments.
The platform was founded by Thomas Worden, Sacha Schmitz and Cheryl Mack in 2021 and is already used by a slew of Aussie syndicates. The cash will be used to develop a better platform, reducing costs even further.
Before Aussie Angels, raising a syndicate had admin fees that could amount to over $100,000, which would turn off many investors. Dom Pym's new family office led the new cash, Euphemia, with AirTree, Rampersand, Black Nova and Archangel all tipping in the capital. It's the who's who of Aussie start-ups, which is no surprise considering the 26 syndicates operating Aussie Angels already.
The raise is a big step in the right direction of getting more investors active in Australia. Removing more friction from investing in early stages in Australia will bring in more participants, which may have a substantial impact at the early stages of a start-up's journey.
Due Diligence: AFR