How does the closing process work?

Step-by-step guide: Investment closing process on AngelList

1. Investment submission review
   Once you submit your investment on your AngelList Vehicle’s Investing Dashboard, our team will review it for compliance and regulatory measures. This process typically takes up to 24 hours.
2. Approval notification
   After your investment is approved, you and your AngelList Account Manager will be notified of the approval.
3. Proactive closing process initiation (optional)
   If you choose to have AngelList proactively start the closing process, you, your account manager, and the founder will receive an automated email. This email will contain all the necessary instructions to begin the closing process.
4. Handling closing introduction personally (optional)
   If you prefer to handle the introduction personally, please introduce your AngelList Account Manager to the founder or closing team to initiate the closing process.
5. Signature requests & documents collection
   As part of the closing process, your AngelList Account Manager will ask for:
   • Signature requests via DocuSign or the like
   • Wire instructions
   • Financing documents / Pro-forma cap table (for equity investments)
   • If there are any relevant side letters for the investment (e.g., Tax Representations or Pro-Forma Rights), your AngelList Account Manager will request these as well.
6. Document review & wire transfer initiation
   Once all relevant materials are collected, AngelList will review the documents before executing signature requests. If there are any key findings or questions during our review, your AngelList Account Manager will reach out to you directly for clarification.
7. Wire verification for large transfers
   If the investment involves a wire transfer of $250k or more domestically, or $100k or more internationally, we will send a wire verification link through DoubleCheck to the founder before wiring capital.
8. Closing confirmation
   Once signature requests have been executed and the wire transfer has been initiated, we will request the counter-signed closing documents and confirmation of the receipt of funds.