Expanding Networked Banking

Over the past 8 years, AngelList’s banking infrastructure has powered 20k+ fund bank accounts to move over $57B safely and securely. In the aftermath of the Silicon Valley Bank collapse, AngelList launched Networked Banking for our full-service fund managers, which increased access to FDIC insurance through a sweep network infrastructure and partnerships with FDIC member banks.

As part of our mission to build the infrastructure that powers the startup economy, today we’re making Networked Banking available to all fund managers, including those not on our full-service offering.

With the broader release of Networked Banking, AngelList aims to address the needs of all VCs by unlocking seamless account creation on a sweep network infrastructure—providing top tier FDIC coverage eligibility, mitigating single-bank risk, and ensuring day-to-day operational flexibility.

How It Works

Networked Banking is designed to solve the banking needs of venture funds with a purpose-built solution:

• Accelerated Account Creation: Setup your account in under two minutes and connect to your existing bank to transfer funds.
• Multi-Bank Structure: Utilizing our sweep infrastructure, deposits are automatically distributed across a network of 20+ partner banks to ensure up to $8M in FDIC coverage eligibility for your operating capital.
• Seamless Dashboard: Setup multiple funds, and manage their operating accounts, connect existing bank accounts, and view transaction history, incoming and outgoing wires, as well as statements within a single, modern dashboard.