San Francisco-based FundersClub launches "Hacker News for private investors"

January 27
11:27 PM 2014

FundersClub has introduced "Venture News," a community news site where private investors are able to read and promote significant content and engage in discussions, VentureBeat reported. FundersClub Founder Alex Mittal calls the site "Hacker News for private investors."

In an interview, Mittal told VentureBeat, "A broader shift is happening in the investment landscape - more and more people are starting to have an interest in startup investing and get involved with opportunities that were previously only available to institutional investors. There needs to be resources for folks to learn more about what is happening from the angle of a private investor."

The San Francisco-based club is an online network that links accredited investors with the most promising startups worldwide. Those interested to become angel investors frequently lack the time to find good deals and research these themselves. Plus, there's also the challenge of having access to promising startup investment opportunities if one is not well-entrenched in the technology community, the report said.

FundersClub helps their angel investors in this regard by looking for and scrutinizing the startups for them. By removing these obstacles, investing becomes easy for their members. The success of the strategy speaks for itself: Mittal told VentureBeat that they now have 8,000 investors in their network who have collectively poured $11.5 million spread out in 57 firms.

Their community news site Venture News seeks to strengthen the connections between their members by serving as an information and deal hub. Members are able to post relevant and interesting links on Venture News, with the best articles and comments going up to the top through votes, the report said.

Mittal said, "From the beginning, we wanted to provide a community and not just be a transactional platform. It is important for any type of investor to become more educated and stay current, and there hasn't been a home for them to do that in a community-centered sort of way."

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