DLA Piper has advised AngelList, the US-based equity crowdfunding platform, on its launch of UK syndicates.

AngelList works by letting experienced angel investors create syndicates that outsiders can join to acquire small slices of a company. The syndicate leader and AngelList take 20 per cent of any gains on an exit — 15 per cent goes to the syndicate lead and 5 per cent goes to AngelList. The rest is distributed among the other individual investors.

Ten syndicates have been announced for the UK and approximately £1m in capital has been committed. UK syndicates are open to investors worldwide.

Confirmed investors in UK syndicates include Robin Klein (venture partner at Index Ventures and investor in Zoopla), Forward Partners (investors in Hailo) and Seedcamp (investors in Transferwise).

The DLA Piper team comprised regulatory partner, Tony Katz, corporate partner, Luca Gori, associates Sola Paterson-Marke and Puesan Lam and tax partner, David Thompson.