Engineering challenges at the intersection of finance, law, and distributed systems.
Feb 18, 2026 — 4 min read

Every breakout startup works hard to get the right investors on its cap table. Those venture funds work just as hard behind the scenes: raising capital from limited partners, allocating it with contractual precision, and tracking every mutation over the fund's lifetime. Venture is a database of promises that change over time, and our job at AngelList is to ensure those changes are legible, auditable, and automatable. Today, AngelList builds infrastructure for venture capital. We build the source of truth for funds' legal and economic reality, maintaining audit trails accountants can trust, and a product investors can rely on.
One of the categories we play in is fund administration: A venture fund raises money and writes checks, but in practice it is a long-lived contract that encodes:
All of that changes over time, often retroactively, because the real world is full of edge cases, and lawyers are endlessly creative.
AngelList is the fund administration platform behind a big chunk of venture’s plumbing. Fund managers using our software represent $171B in assets on our platform across ~25k investment vehicles. We are a small engineering team of less than 50 with absurd impact: more than half of top-tier U.S. VC deals involve investors on AngelList.
We model contracts as evolving state machines, reconcile noisy real-world inputs into canonical entities, and turn messy legal reality into append-only accounting facts. We have built primitives for backfills, reversals, and historical replays — so when lawyers and accountants change their understanding of the past, our systems don’t flinch. We're building distributed systems fundamentals applied to finance, where the packets are PDFs and the failures cost real money.
Keeping asset and membership ledgers in order is something no one brags about, but the whole ecosystem depends on it. As funds invest, and as startups raise follow-on rounds, or die, reality diverges from the happy-path spreadsheet: valuations are marked up and down, partners negotiate side letters, memberships get sold off, or split up after a divorce (yes, this actually happens), and much more. To keep the story consistent: for LPs, for auditors, for tax season, and yes, for regulators, engineers at AngelList build workflows and tools for our operational teams. We parse email threads and ingest dense legal docs (which come in the shape of Excel and PDF files), extract terms, reconcile contradictions, and turn that contractual reality into structured data. Then we transform those state updates into deterministic general ledger entries that accountants can review, understand, and stand behind.
The hard part is making the whole pipeline auditable, repeatable, and resilient to new knowledge. That’s where our engineering architecture lives: controlled state transitions, explicit provenance, and guardrails that prevent what seem like innocent fixes from rewriting history in ways that break downstream reporting and closed books. Our engineering teams build data systems where correctness matters, domain rules are complex, and the output is high stakes. We share our reports with our customers, and the same source of truth drives reporting and tax artifacts used for IRS filings and SEC audits. When we do our jobs right, founders get to spend more time building, GPs spend more time investing, and LPs can actually trust the numbers they’re shown. That's why we pay very close attention to every single transaction, to the penny.
If building the financial substrate of the startup economy sounds exciting, come help us accelerate innovation by increasing the number of successful startups in the world. We’re hiring.
