The ability to accept international LPs depends on whether your deal is self-advised or AngelList-advised, and where your LPs and target investments are located.
For self-advised SPVs or funds:
You can generally accept international LPs if:
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They meet the definition of an accredited investor, and
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They pass our KYC/AML checks
However, it is your responsibility as GP to understand and comply with applicable marketing laws and restrictions in the LP’s country of residence.
For AngelList-advised SPVs or funds:
There are additional restrictions, based on country-specific regulations:
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If your SPV is investing in a company outside the U.S., you cannot accept LPs from the same country as the investment.
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Funds that promote their strategy as investing in specific foreign markets cannot raise capital from investors in those markets.
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Japanese and Singaporean LPs are not supported under any AngelList-advised vehicles.
We evaluate each LP on a case-by-case basis during onboarding and may enforce additional restrictions based on their jurisdiction.
Canadian investing entities:
Canadian entities are subject to stricter guidelines. For a Canadian LP to invest in your SPV, you as GP must invest at least $10,000 or 2% of total SPV commitments (whichever is lower). This is to meet Canadian regulatory thresholds.
You can find more information on our international investing policies here.