When TechCrunch editor Mike Arrington barged in on a secret meeting
of super angels, the wealthy individuals who are taking an increasingly
prominent role in startup investing, the facts were open to
interpretation. Arrington alleged that he heard the meeting was about
illegal collusion. That seemed so unlikely. But now an email sent by
investor Ron Conway (right) shows that there is a real fracture in the
angel group about whether there was an attempt at collusion, as
Arrington alleged.
Two days ago, Arrington wrote a post where he alleged that the secret meeting that he crashed was in fact an attempt by a group of super angels, or well-heeled investors with their own funds, to illegally collude by agreeing to hold down startup valuations. At the time, it seemed pretty implausible that such a well-known group of smart people would try to get away with such a hare-brained scheme. (After all, these angels don’t control a significant percentage of the angel money being invested in companies).
To read the full, original article click on this link: AngelGate dispute among Valley investors cracks wide open | VentureBeat
Author: Dean Takahashi
