Atlas Venture has long been involved with AngelList and the website’s syndicates program. Atlas was among the earliest investors in AngelList and was also one of the leads in its $24 million round of funding last year. Additionally, in December, Atlas gathered a group of Boston angel investors together to create the so-called “Boston Syndicate” in which the firm would add $250,000 to members AngelList syndicates’ deals.
One of the key people involved with AngelList on behalf of Atlas Venture has long been principal Dustin Dolginow.
Dolginow joined Atlas in 2010 and began helping AngelList in a number of capacities in 2012. When it was reported earlier this year that Dolginow was heading out to Silicon Valley, the word was that he was going to work on a project closely tied to AngelList.
Today, Dan Primack reported in Fortune that Dolginow will be part of a firm called Maiden Lane, which will invest in AngelList syndicates and companies seeking funding on AngelList’s public fundraising platform.
As Primack explained, Maiden Lane is, “expected to close its debut fund within the next week on between $20 million and $25 million … from traditional limited partners in VC funds, like Top Tier Capital Partners and Venture Investment Associates.”
“Typical commitments would be around $200,000 up-front, plus reserved cash for follow-ons,” he added.
Primack also pointed out the deeper connections between Maiden Lane and AngelList in his piece.
For one, he wrote about Dolginow’s role with Atlas and as a new venture partner in Maiden Lane. Secondly, he reported that the other partner in the firm, Kevin Laws, is the current chief operating officer at AngelList. (Primack also said that Laws is “expected to remain COO, but spend the vast majority of his time on Maiden Lane.”)
Additionally, Atlas partner Jeff Fagnan and AngelList founder and chief executive Naval Ravikant will sit on Maiden Lane’s investment committee and are limited partners in the fund. Fagnan, according to Primack’s post, indicated that “Atlas helped back Maiden Lane’s pilot program called Angel Pool, which already has returned its initial capital and is being held at around a 4x multiple.”