Last updated 10/20/2026
What this is
We're asking people in the AngelList community to introduce us to fund managers who might want to run a fund with AngelList. If someone you refer signs on, we may send you a thank-you. These guidelines explain how the program works. If a banner, email, or anything else about the program says something different, these guidelines are what we go by.
When it runs
October 20, 2026 through 11:59 p.m. ET on December 31, 2026. We may end it early or extend it in our discretion without notice.
Rewards are at our discretion
This is the most important thing to know. A reward is a thank-you, not a payment you earn or are owed, and it isn't compensation for services. Even if your referral meets everything described below, AngelList decides:
- whether to send a reward at all,
- what form it takes (cash, a gift, or an experience),
- how much it's worth, and
- when it arrives.
The most we'll give for any one referral is cash or cash-equivalent of $10,000. That's a ceiling, not an estimate or a promise. Some referrals may get less, and some may get nothing. We may consider anything we think is relevant, like the expected size of the fund and the relationship. We'll give at most one reward per fund manager, and we decide the value of any non-cash reward. A reward isn't yours until we've confirmed it to you in writing.
What kind of referral we're looking for
We'll consider your referral for a reward only if all of these are true:
- You submitted it through an official AngelList referral form during the program.
- After you submitted it, the manager signed a letter of intent with AngelList for venture fund administration before the program ended, and we accepted it. New funds and funds moving to us from another administrator both count. SPVs and other AngelList products don't.
- Your referral was the first referral we received for that particular manager.
- When you submitted it, the manager wasn't already an AngelList client or already talking with us about fund administration.
- You don't work at, and aren't a principal or partner of, the manager's firm. In other words, no self-referrals.
- You followed these guidelines.
Who can participate
Anyone except AngelList employees and contractors and their immediate family members.
What we ask of you
When you refer someone, please:
- Only refer people you know and who you reasonably think would be open to hearing from us.
- Tell them you may receive a reward from AngelList before we contact them and in any message about the program that you send or forward to them.
- Don't speak for AngelList. That means no statements or promises about our services, pricing, or results, or about any fund or investment. Don't solicit investors for any fund as part of this.
- Don't promote the program through bulk unsolicited messages or in any misleading or unlawful way.
- Make sure accepting a reward is OK under your employer's policies and any laws or professional rules that apply to you.
- Only share contact details you're allowed to share, and only what's needed for the intro.
- Give us accurate information.
How introductions work
On the form, you choose one of three options:
- You make the intro. We won't reach out to the manager ourselves.
- You make the intro, with a backup. If you haven't introduced us within 7 days, we may reach out directly.
- We reach out directly.
We may tell the manager who referred them.
What happens after you refer someone
We're not obligated to contact, onboard, or work with anyone you refer, even if you asked us to reach out. We may decline for any reason, including the results of our standard onboarding, KYC, and compliance reviews. Our conversations with the manager are confidential, so we may not be able to tell you how things are going.
How we use the information you share
We use what you submit to follow up on the referral and run the program and/or as described in our AngelList Terms of Service.
Before we send a reward
We may ask you for identity or tax information and/or ask you to complete any documents or other reasonable requests we believe necessary prior to delivering the reward. If those steps aren't done, or if sending the reward would conflict with a law, regulation, or our policies, we may not send it.
Rewards are personal to you. They can't be transferred, exchanged, or swapped for something else. Gifts and experiences may come with a provider's own terms and availability, and we're not responsible for third-party providers.
Taxes
Rewards, including gifts and experiences, may be taxable, and taxes are your responsibility. We may report rewards to tax authorities where the law requires it.
Keeping it fair
If we find fraud, misrepresentation, a self-referral, a failure to follow these guidelines, or anything we decide, in our discretion, isn't in the spirit of the program, we may disqualify the referral, withhold a reward, or ask for a reward back. Our decisions about the program, including who referred whom and whether a referral counts, are final.
A few other things
Nothing in this program is investment, legal, tax, or other advice, or a recommendation of any fund or investment. You are not AngelList's agent, employee, contractor, or representative, and you cannot act for us.
Changes
We may change, pause, extend, or end the program, or update these guidelines, at any time and with or without notice. Changes take effect when posted. If the program changes or ends, no reward is owed for any referral, including one that's still pending, unless we've already confirmed that reward in writing.
Questions?
Reach us at lead@angellist.com.