It's no secret: the VC industry needs some rationalization right about now. Yesterday, Angelsoft released an update and, as TechCrunch pointed out, they continued to develop tools to help bring more VCs into the fold and onto their platform.
Why does this matter?
If you look around at some recent deals in the early stage tech industry, one will see VCs and angel investors coinvesting on deals more and more often. These coinvestments are due to an increasingly symbiotic relationship between angels and VCs: bloated VC firms need angels to source deals and find the dimonds; meanwhile, angels needs VCs to help close out a round and ensure their investments can be supported with future rounds, if needed.
For this reason, Angelsoft is smart to bring VCs on board. Having them using the software will be good for the VCs, good for the angels, and -- ultimately -- good for the entrepreneurs invovled.
Disclosure: Angelsoft is a portfolio company of Rose Tech Ventures, my employer.