His Brand Burnished, Naval Ravikant Plans New Fund with Babak Nivi
Posted on: November 5, 2010 by Connie Loizos1 Comment »
Since AngelList emerged on the scene eight months ago, many have speculated how its founders, Naval Ravikant and Babak Nivi, plan to monetize the service, which vets startups for accredited investors. In June, the Journal even speculated that beyond giving the pair access to companies they might personally want to fund that AngelList helps them to “indirectly market” guides to negotiating a funding round that the two authored some time ago.
Yesterday, Ravikant told me that his ambitions are unsurprisingly more substantial than selling “$10 PDFs” that they also “give away liberally.” Indeed, three years after Ravikant raised a $20 million, social media-focused fund from investors called Hit Forge, he and Nivi are looking to raise a new fund “in the range” of $40 million next year. “We’ll see how much money people throw at me,” he says with a laugh.
