Flat pricing for every deal size.

One flat fee for SPVs. We keep it simple with no hidden costs.

Offering

SPVs

Transparent pricing, so you know your SPV costs upfront.

One-time setup fee

$8k

Features

  • SPV administration
  • Investor closings
  • Distributions included
  • Transaction review & execution
  • Optional add-on services

Details

Blue sky fees

Flat passthrough rate of $2k for state regulatory costs, also known as blue sky fees.

Fees are capped

Total SPV fees are capped at 10% of the raised amount, excluding add-on service fees.

72k investors

Elect to grow your LP base by submitting your SPV to Meridian, our wealth platform.

What’s included

Seamlessly launch and run SPVs

Everything from deal execution services to modern software for you and your investors.

SPV operations

  • GP Portfolio & Investment Dashboard
  • Digital deal term review
  • Legal SPV formation
  • SPV filings
  • Bank account setup & management

Accounting and tax

  • SPV accounting
  • SPV taxes
  • Investor K-1 preparation

Investor services

  • Digital investor closing
  • LP portal and data room
  • Investor K-1 distribution

Investment management

  • Share carry via deal partners
  • Deal closing workflows
  • Transfers & distributions
  • Transaction review & execution
  • Valuation support

Additional services

Add-ons

International investments

$1k

Self-advised SPV

$1k

Non-standard investments

$2k

Crypto investments

$2k

Blocker setup

$6k

Financial statements

$10k

3(c)(7) Parallel fund

$12k

Master LP formation

$4k

Start deploying capital when you’re ready

Set up your free Syndicate profile and launch your SPV to start investing in opportunities, on your time.

FAQs

Common pricing questions

Does AngelList differ from other SPV administrators?
Yes. There are several ways that AngelList differs from other SPV administrators and deal execution platforms, including privacy, LP network, and pricing:

  • Privacy. We support both 506(b) and 506(c) structures for SPVs. This gives the fund lead control over keeping deals private to their LPs, or sharing them broadly as a public offering.
  • LP network. AngelList has 72k LPs on the platform, offering additional opportunities to gain exposure for your SPV if you choose.
  • Pricing. There’s a flat fee structure for SPVs on AngelList, with no additional charges for distributions and no deal-size markups.

How much does it cost to run an SPV?
The setup fee for most deals is $8k plus a flat state regulatory fee of $2k. The setup fee covers formation costs and our back office team, who handle all the administrative aspects of your syndicate for its lifetime. Each deal you run is set up as a separate vehicle, so each deal incurs this cost.

  • SPV fees are distributed across all LPs who invest in a given deal and prorated based on their investment amount.
  • For pro-rata / follow-on deals, where the previous deal was also run on the same Syndicate via AngelList, the setup costs are $5k, with a flat blue sky fee of $2k.

Are follow-on SPVs the same price?
No, follow-on SPVs have a reduced fee. We consider an SPV to be a follow-on if it's raised for the same company, through the same syndicate, in a subsequent funding round. In follow-on scenarios, setup fees for the SPVs are discounted to $5k from the typical $8k.

What is the minimum raise for SPVs on AngelList?
The recommended minimum raise for SPVs is $80K, or $50k for follow-on investments.

If your SPV does not raise the minimum amount, it can still be run as long as a fee contribution is made towards set up and state regulatory fees. This ensures that LPs don’t pay more than 10% of their commitment in fees (excluding optional add-ons).

What is the minimum I personally have to invest in each deal?
We recommend that deal leads invest at least 2% of the allocation (or $10K, whichever is lower) to demonstrate skin-in-the-game to their LPs. However, you are only required to invest $1,000. You can invest directly into the syndicate, or you can make an investment alongside (i.e. separate from) the syndicate.

If you'd like to raise money from Canadian LPs, you must invest at least $10,000 or 2% of the allocation (whichever is lower).