AngelList may provide a high-level summary of the mechanics of the pay-to-play financing as well as the deadline to participate through the lead approval process.
AngelList/Belltower will defer to the Fund Lead with respect to the responses provided in the indication of interest form. AngelList/Belltower will not submit an indication of interest without explicit approval from the lead.
The Fund Lead must make a decision on whether or not to participate in the pay-to-play financing. If the Fund Lead elects to participate, they must decide whether to submit a new-money investment to cover the Fund/SPV’s pro rata share or finance the Fund/SPV’s participation through other means.
AngelList/Belltower may liaise between the Fund/SPV and the Portfolio Company. However, the Fund Lead should seek outside legal/tax counsel if they have questions about the decisions they need to make on the indication of interest form.