AngelList & Belltower

A key part of AngelList’s business is our full-service fund management offering for venture firms of all sizes – ranging from syndicates to venture funds to first-of-their-kind rolling funds. Our full-service fund management offering abstracts away the complexity of running a fund by integrating the administrative, tax, compliance, portfolio management, and other services that managers typically have to cobble together from multiple vendors. Creating a software-first approach to run, launch, and scale a fund, allowing fund managers to focus on what they do best: investing.

As our full-service fund management business grew and evolved, we noticed that fund managers require two things to power their firm: (1) best in class software and (2) high-caliber fund, tax & portfolio administration services. 

To address these separate needs, AngelList formed a native fund administrator, Belltower Fund Group. Since 2019, Belltower has supported 20k+ funds representing over $16B in assets under administration, leveraging AngelList’s fund admin software to power the service layer for funds launched on the AngelList platform. 

This close partnership between AngelList and Belltower ensured that AngelList customers had a unified experience with a premium level of software and services to launch, run, and scale their funds. This truly one-of-a-kind offering empowered new and existing fund managers to seamlessly launch funds, and led to many more startups being funded.

What’s next? 

At the end of 2023, Belltower will complete its journey to become an independent fund administrator. 

This move will allow Belltower to continue serving fund managers on the AngelList platform, while clarifying its focus on providing leading edge tech-enabled tax, fund administration, and financial reporting services tailored to the needs of venture firms with less than $150M in AUM. 

AngelList will continue its mission to create the software infrastructure that powers the startup economy, including our recently launched unified software suite. For the first time ever, venture and private equity firms can leverage AngelList’s suite of private markets software products with any third-party back office provider. 

AngelList and Belltower's future partnership

AngelList will continue to partner with Belltower as its trusted native fund administrator for venture fund managers looking for our integrated full-service back office solution that pairs AngelList’s software with Belltower’s services. This combination provides fund managers with a turnkey full-service offering, including fund formation, portfolio management, financial reporting, and more when launching their fund. 

Similar to AngelList’s relationship with other Preferred Partners, AngelList and Belltower will operate closely, ensuring that current and future customers experience the same level of top-tier service. For existing full-service fund management customers, Belltower’s independence will not change the way your fund is administered. You will continue to have the same account manager and the same experience managing your fund online via the AngelList platform. 

For our future customers, you will still have the option to use AngelList's full-service offering to form, launch, and run your fund – experiencing the powerful combination of AngelList's software and Belltower's services. Alternatively, you can choose to use AngelList's standalone software alongside your existing fund administrator.

We are excited for this next chapter for Belltower and AngelList, as it enables both companies to further excel in their respective missions to provide exceptional service and products for private markets.

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FAQs 

For Existing AngelList Customers:

Q: Who should I go to with questions?

A: Your account manager will still be at AngelList. You can reach out to them with any questions you may have and they will continue to act as your main point of contact. 

Q: Does anything change within my existing fund structure? 

A: No. Everything within your existing fund structure will stay the same.

Q: When will Belltower formally become independent of AngelList?

A: This will take effect at the start of 2024. 

Q: Will my investors now see the ‘Belltower’ name when onboarding? Or will they still see ‘AngelList’?

A: AngelList provides the platform you currently use when onboarding your investors or accessing your portfolio dashboard. With this update, you will continue to see AngelList branding throughout the platform. You will also start to see the Belltower name appear in communications that would traditionally come from your fund administrator, such as account statements. 

For Funds Looking for a Fund Admin:

Q: Can I still launch a fund leveraging AngelList’s offerings?

A: Yes. Our full-service fund management still remains a core pillar of AngelList’s offerings, where you can launch a venture fund, rolling fund, or syndicate leveraging the AngelList software and Belltower services.

Q: I am currently evaluating a few different fund admins. What AngelList software can I use if I decide to use a fund admin other than Belltower?

A: AngelList’s private markets software suite allows you to leverage our best-in-class software — including portfolio, investor, and financial management solutions — with any fund admin you choose. You can learn more about these offerings here.

Limited Partners:

Q: Who do I contact if I have questions? 

A: For any immediate questions, you can reach out to invest@angellist.com.

Q: How do I access or view my investments?

A: You can still access all of your investments on your dashboard by logging into angellist.com.

Preferred Partners

Q: Where can I go to learn more about AngelList’s Preferred Partner program?

A: You can read more about our Preferred Partner Program here. 

Q: How can my company become a preferred partner with AngelList?

A: If you’re interested in becoming an AngelList Preferred Partner, please reach out to partnerships@angellist.com.