The short answer
AngelList today is infrastructure for private-market investing: fund administration, SPVs, syndicates and Roll Up Vehicles, with published pricing such as an $8k SPV setup fee plus a $2k state regulatory fee (checked 2026-11-01). Zalarma is a US investor database that helps founders find the investors who fit their round and a warm path to them.
- AngelList is mainly fund and SPV infrastructure; it is not a founder's investor-search database.
- Published AngelList pricing (checked 2026-11-01): SPV setup $8k plus a $2k state regulatory fee, with an $80K minimum raise.
- Founders meet AngelList when a syndicate lead invests through an SPV or when they use a Roll Up Vehicle to group small checks.
- Zalarma covers 33,282 US startup-investor records for building the list (Zalarma investor database, as of 2026-11-01).
Many founders still think of AngelList as the place to find angel investors. Its own site now describes it as "the financial system for private markets": fund administration for venture funds, SPVs and syndicates, Roll Up Vehicles, investor management, digital subscriptions and data rooms, plus separate businesses for accredited investors and retail venture access. Its talent marketplace is no longer part of AngelList. Zalarma does a different job. It's an investor database for founders outside the usual circles, built to help them find the angels, angel groups, micro-VCs, family offices and regional funds that fit their stage, sector and city, and plan a warm path to each.
AngelList details below come from its official home, SPV, pricing and Roll Up Vehicle pages, checked on 2026-11-01.
At a glance
| Zalarma | AngelList | |
|---|---|---|
| Who it's for | Pre-seed to Series A founders, especially outside Silicon Valley and the big accelerator circuit, who need investors that fit their round. | Fund managers, syndicate leads and angels who run investment vehicles, and founders who want to group many small investors into one cap-table line. |
| Main job | Finding and prioritizing investors who fit your round, with the context for a warm introduction. | Forming, closing and administering investment vehicles: SPVs, venture funds, rolling funds, scout funds and Roll Up Vehicles. |
| Data coverage focus | US startup investors. 85,848 investor and firm records in total, including 33,282 US records tagged as startup investors (angels, VCs, micro-VCs, family offices, corporate VCs, accelerators), each citing its public source. (Zalarma investor database, as of 2026-11-01) | Not an investor-search database. Its SPV page says 25,000 syndicates and funds use the platform. |
| Pricing (as published, checked 2026-11-01) | No published price. Request access to the database, or ask for a free match list. | SPVs: $8k setup fee plus a flat $2k state regulatory fee for most deals; minimum raise $80K ($50K for follow-ons, which cost $5k plus $2k). Roll Up Vehicles: from $8,000 plus filing fees. Venture funds: for example, the Institutional plan at 0.1% of fund size plus $10k a year. |
| Strengths | Filters built around investor fit, including state/metro and check size. Investor profiles with focus, stages and portfolio signals. Watchlists, alerts, CSV export. A "Get matched with 5 investors" service. | Mature SPV and fund back office: formation, KYC and accreditation checks, digital closing, K-1s, distributions. Supports both 506(b) and 506(c) SPVs. |
| Limits | US focus. Investors only, not company or market data. No built-in deck hosting or fundraising CRM. CSV export is quota-limited; research briefs are on premium. | Doesn't help a founder decide which investors to approach. Vehicles carry setup and regulatory fees and minimum raise sizes. |
| Best for | A fit-first US target list, especially regional angels, angel groups and family offices, plus a plan for warm introductions. | Closing many small checks cleanly, or investing through a syndicate lead's SPV. |
How they differ in practice
Before the yes vs after the yes
Zalarma helps with the part of a raise that happens before anyone commits: figuring out which investors fit, why, and how to get introduced. AngelList mostly helps after commitments exist: pooling money, handling paperwork and keeping the cap table tidy.
Where founders meet AngelList
There are two common touchpoints. First, an angel or syndicate lead may invest in your round through an AngelList SPV, so your cap table shows one entity instead of dozens of names. Second, you can set up a Roll Up Vehicle yourself, which AngelList describes as a way to "turn new investors into one line on the cap table". Either way, you still need to find those investors.
Worked example (hypothetical)
A seed-stage founder in Columbus has $400K committed from a lead and wants to add 20 local angels writing $5K to $25K each, about $250K in total. Adding 20 names to the cap table means 20 signatures on every future consent. Grouping them in one vehicle keeps it to one line. At the published RUV starting price of $8,000 plus filing fees, the founder weighs that cost against the admin saved. Zalarma's part is earlier: finding those 20 angels. Our database lists 2,854 US startup investors whose check size is under $50K and 9,133 at $50K to $250K (Zalarma investor database, as of 2026-11-01).
Pricing
AngelList publishes its vehicle and fund pricing. Zalarma doesn't publish a price; access to the database is by request, and you can ask for a free match list first.
When to choose AngelList instead
- You already have many small commitments and want them on one cap-table line.
- An investor wants to syndicate your deal to their network through an SPV.
- You're an angel or fund manager who needs formation, closing and tax paperwork handled.
When Zalarma fits better
- You don't yet know which investors to approach for this round.
- You want angels, angel groups and family offices in your state or metro, filtered by check size.
- You want the public source behind every record and the context for a warm intro.
- You'd rather start from 5 hand-picked investors, each with a one-line why-they-fit, delivered within 2 business days.
Using both
Use Zalarma to build the list and earn the meetings, using our guide to finding angel investors. When small checks start to stack up, consider a vehicle to keep your cap table clean, and talk to your lawyer about which structure fits.
Bottom line
AngelList is plumbing for investing and closing. Zalarma is a map for finding the right investors. Most founders who use AngelList's vehicles still need a target list first.
Frequently asked questions
Can I find angel investors on AngelList?
AngelList's current products focus on fund administration, SPVs, syndicates and Roll Up Vehicles rather than investor search for founders. Use an investor database to build your list.
How much does an AngelList SPV cost?
AngelList's SPV page lists an $8k setup fee plus a flat $2k state regulatory fee for most deals, with an $80K minimum raise ($50K for follow-ons at $5k plus $2k), checked 2026-11-01.
What is a Roll Up Vehicle?
An AngelList product that groups many investors into one entity, so they appear as one line on your cap table. AngelList lists it from $8,000 plus filing fees (checked 2026-11-01).
Is Wellfound part of AngelList?
No. AngelList's site says Wellfound is no longer part of the AngelList portfolio.
How do I get matched with investors on Zalarma?
Use the match form. We hand-pick 5 investors who fit your round, each with a one-line why-they-fit, within 2 business days.